The Week Ahead

Big week ahead, gang. Not only does the macro heat up with June CPI and June PPI on the docket, but by Friday, the big banks will start going to the tape with their numbers in what is considered to be the unofficial kickoff of Q2 earnings season.

Corporate... This is not going to be a particularly busy week for earnings, but late this week, the quality of the names reporting will notably improve as earnings season gets underway. On Thursday, Delta Air Lines (DAL) and PepsiCo (PEP) will both report before the open. Then on Friday morning, Citigroup (C), JP Morgan (JPM) and Wells Fargo (WFC) will all post their performance.

The Fed... The Fed won't exactly be out in force this week. That said, news will be made. Fed Chair Jerome Powell will testify before the Senate Banking Committee on Tuesday and before the House Financial Services Committee on Wednesday. Though not part of the Fed, Treasury Secretary Janet Yellen will testify before the House Financial Services Committee on Tuesday.

Macro... The headline event for this week will be this Thursday's BLS release of CPI data for June. This one is sure to leave a mark on our marketplace. Outside of that June PPI hits the tape on Friday and the US Treasury Department will go market with $39B worth of new Ten-Year Notes on Wednesday.