Week Ahead: Wall Street braces for inflation data, big bank earnings and Middle East developments

Wall Street faces a pivotal week with June CPI and PPI inflation prints due, Fed Chair Kevin Warsh's semi-annual monetary policy testimony before Congress, and Q2 earnings from major US banks including JPMorgan, Goldman Sachs, Bank of America, Wells Fargo and Citigroup. Tensions in the Middle East have escalated sharply, with Iran announcing the closure of the Strait of Hormuz 'until further notice' after retaliatory attacks across at least five Arab nations, raising concerns over global oil supply disruptions. Tech earnings from Netflix and Taiwan Semiconductor will also be in focus as investors gauge consumer demand and AI growth momentum.