June CPI, Biden Press Conference, Delta, Pepsi Results: What to Watch

Wall Street will have a lot of news to digest on Thursday, July 11.

June’s consumer price index data will be released in the morning; consensus estimates suggest it will be in line with May’s data.

Earnings reports will be released for Pepsico (PEP), Progressive (PGR), Delta (DAL) and ConAgra Brands (CAG).

Speeches will be delivered by Federal Reserve executives, including Atlanta Federal Reserve President Raphael Bostic and St. Louis Federal Reserve President Alberto Musalem.

President Joe Biden will hold a news conference at the end of the NATO summit.

For more expert opinions and the latest market updates, click here to watch the full episode of the Market Domination Overtime podcast.

This post was written by Nicholas Jacobino

Video Transcription

Time for something worth watching.

Thursday, July 11, we start with the economy.

This week the most important economic data will be released, starting with CP I.

Here is the reading of the Consumer Price Index for June, which will be released in the morning.

Economists forecast overall CP I to rise 0.1%, while core CP I will hold steady at 0.2% and move into gains.

This week marks the start of another earnings season, with all reports due out tomorrow from Pepsi and Delta Airlines.

Delta will announce second-quarter results this morning.

Analysts expect airline profits to take a hit from higher wages and lower ticket prices, which will go to the Fed, more Fed Conor tomorrow from several Feds.

The President will arrive after approximately two days of rational testimony.

This morning, Powell highlighted the slowdown in the labor market and a potential interest rate cut that is hanging in the balance.

Finally, tomorrow, President Biden will address a press conference at NATO headquarters as the NATO Summit in Washington comes to a close.

The conference will be another key test for Biden as fellow Democrats and donors continue to question his fitness to serve a second term.