Major U.S. banks, including JPMorgan, Wells Fargo, and Citigroup, are set to report their earnings this week, coinciding with the release of June's Consumer Price Index (CPI) data. Economists anticipate a mild uptick in inflation, with both total and core CPI expected to rise by 0.3%. This data will be crucial for investors and policymakers as they assess the Federal Reserve's potential interest rate decisions in the coming weeks, especially in light of recent tariff announcements that could impact inflation dynamics.

The upcoming earnings reports from major banks and companies like Netflix and PepsiCo are expected to reflect the ongoing economic environment shaped by tariffs and inflation. Analysts predict a 5% earnings growth for the S&P 500, marking the slowest pace since late 2023. The market's reaction to these earnings will be closely watched, particularly as it relates to the broader economic implications of tariff policies and inflation trends.