This will be my first time here for Swiss National Aug 1. I will be in Geneva. Does this mean that all the shops will be closed? Will the trains and public transportation continue? Any info on what to do (already saw the bruch info) would be appreciated. Thank you

The shops will probably be closed - but check their doors, most put up opening hours posters. There are always little shops around that are open for bread and milk etc.

The Fetes de Genève will be on, so there will be lots to do.

The buses and trains will probably be ok too. Probably running on a "public holiday" schedule. Which just means that they are not every 10 or fifteen minutes. It depends where you live. Just check the timetable at the bus stop or online at tpg.ch.