Market news today: June inflation reports key to investors’ outlook

CPI report: key to Fed’s interest rate decision and economic outlook

The June inflation report, due out on Thursday, July 11, is highly anticipated by investors and economists. Market expectations are for a 0.1% month-over-month increase and a 3.1% year-over-year change, with the core CPI set to rise 0.2%. Bank of America agrees with that forecast but projects a slightly higher annual rate of 3.2%. The report’s outcome could influence the Federal Reserve’s decision on whether to cut interest rates, potentially as early as December. Additionally, data on the producer price index and consumer sentiment, due out on Friday, will provide further insight into economic trends and price pressures.

Q2 earnings season begins: S&P 500 stocks poised for growth

Q2 earnings season is set to begin, and forecasts point to strong performance from S&P 500 companies. Earnings are expected to rise 8.6% year over year, while revenue is expected to increase 4.7%. This growth rate is the highest since Q1 2022. Major banks like JPMorgan Chase, Wells Fargo and Citigroup will lead the earnings reporting on Friday. Other notable companies reporting include Helen of Troy, WD-40, PepsiCo and Delta Air Lines, providing insight into various sectors of the economy and consumer behavior.

Stock futures fall as Boeing faces legal setbacks

Stock futures fell Monday as investors await key inflation data and earnings reports from major financial and consumer companies. The S&P 500’s 16.7% gain since the beginning of the year reflects optimism about lower inflation and potential Fed rate cuts. June’s CPI and PPI releases could bolster those expectations. Boeing, meanwhile, agreed to plead guilty to criminal fraud charges related to the 737 Max crashes, facing a $243.6 million fine. The legal development comes as the company tries to overcome recent safety crises while the broader market focuses on economic indicators.