
June U.S. CPI lands before major bank earnings, as investors track Fed signals, firmer oil tied to U.S.-Iran tensions around the Strait of Hormuz, and Jito’s scheduled JTX launch.
Markets are focused on the July 14 release of U.S. June CPI and second-quarter earnings from JPMorgan Chase, Goldman Sachs, Wells Fargo and Citigroup, with investors also watching Federal Reserve commentary, firmer oil prices linked to U.S.-Iran tensions around the Strait of Hormuz, and Jito’s planned JTX launch. Reuters reported mixed U.S. stock index futures ahead of the inflation data, while rising oil added to concern that any cooling in June inflation may prove temporary. Fed Governor Christopher Waller’s hawkish comments pushed up expectations for a July rate increase, while bank results were also seen as a gauge of household spending, borrowing and credit conditions.