CPI Data and Fed Officials' Remarks to Drive Wall Street Next Week

According to PA News, US-Iran tensions escalated sharply this week, with mutual strikes breaking a fragile ceasefire that had held for about three weeks. Shipping through the Strait of Hormuz has once again nearly ground to a halt.Despite the breakdown, mediators have not abandoned their efforts, according to foreign media reports. The coming week will see US-Iran developments, US CPI data, and Federal Reserve officials' speeches drive Wall Street sentiment.Markets are particularly focused on Fed Chair Warsh's congressional testimony, hoping he will provide more clues on the interest rate outlook. However, his determination to abandon forward guidance makes meaningful signals unlikely.Next week also marks the peak of US bank earnings season, a key highlight for the market.Key events to watch for the week of July 13–17, 2026 (all times UTC):Mon Jul 13, 16:30 — Fed Governor Christopher Waller speaksTue Jul 14, 12:15 — US ADP Employment Change (Weekly), week ending Jun 27Tue Jul 14, 14:00 — Fed Chair Kevin Warsh testifies before House Financial Services Committee on Semiannual Monetary Policy ReportTue Jul 14, 17:00 — 2027 FOMC Voter & Chicago Fed President Austan Goolsbee fireside chatWed Jul 15, 12:45 — FOMC Permanent Voter & New York Fed President John C. Williams speaksWed Jul 15, 14:00 — Fed Chair Kevin Warsh testifies before Senate Banking, Housing & Urban Affairs Committee on Semiannual Monetary Policy ReportWed Jul 15, 18:00 — Federal Reserve Beige BookWed Jul 15, 22:30 — 2028 FOMC Voter & St. Louis Fed President Alberto Musalem speaksThu Jul 16, 12:30 — US Initial Jobless Claims, week ending Jul 11; US June Retail Sales (MoM); US July Philadelphia Fed Manufacturing IndexThu Jul 16, 16:30 — 2026 FOMC Voter & Dallas Fed President Lorie K. Logan speaksThu Jul 16, 23:00 — Fed Vice Chair Philip Jefferson speaks on economy and monetary policyFri Jul 17, 13:15 — US June Industrial Production (MoM)