US Stock Market: Wall Street braces for pivotal week as earnings, inflation data and Middle East tensions come into focus

Wall Street is set for a pivotal week with the S&P 500 trading less than 1% below its record high and up over 10% for the year. Key triggers include June US CPI and PPI inflation data, Fed Chair Kevin Warsh's congressional testimony, and the start of Q2 earnings season led by JPMorgan Chase and Goldman Sachs. Brent crude has risen to around $76 per barrel amid renewed Middle East tensions involving the US and Iran, though easing oil could relieve pressure on central banks. S&P 500 companies are expected to post a 23.7% year-on-year earnings growth for Q2.