1- Powell’s Speech:
Federal Reserve Chairman Jerome Powell is scheduled to testify before the Senate and House of Representatives on Tuesday and Wednesday, respectively. While the hearings primarily focus on monetary policy,
2- Consumer Price Index:
The inflation report for June is set to be released on Thursday, July 11. Forecasts indicate a 0.1% change on a monthly basis and 3.1% on an annual basis. The core consumer price index is expected to rise by 0.2%.
3- Second Quarter Earnings Season:
As preliminary reports for the second-quarter earnings season begin to emerge, indicators point to strong performance for S&P 500 companies. Expectations for the second quarter of 2024 suggest an 8.6% increase in earnings compared to the same period last year, with revenues also expected to rise by 4.7%. This expected growth rate is the most significant since the 9.9% increase observed in the first quarter of 2022.