Inflation data and earnings could be the big challenges for markets in the week ahead.
There is a batch of new inflation data, and the most important is the June consumer price index on Wednesday. Economists say it could be even hotter than the 8.6% reading in May.
Earnings season is set to roll out Tuesday, with a report from PepsiCo. Delta Air Lines posts quarterly results on Wednesday. The banking sector comes next, with JPMorgan Chase and Morgan Stanley on Thursday.
Analysts say this could be a rough month for earnings because companies may need to reduce expectations for profits in the second half.
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