U.S. markets face a busy economic calendar this week, with July CPI, PPI, Retail Sales and Jobless Claims among the key releases that could influence Federal Reserve expectations and market direction. Following last week's weaker-than-expected jobs report, inflation data will be particularly important for rate expectations. 📈 Existing-home sales – Tuesday Existing-home sales are expected at approximately 4.05 million annualized, down from 4.09 million in June. 📈 CPI – Wednesday July CPI is the week's biggest economic catalyst. Current economist expectations call for headline CPI to rise 3.4% YoY, with core CPI around 2.5% YoY. One recent economist estimate also puts monthly CPI at roughly +0.16% and core CPI at +0.24%. Why it matters: A cooler-than-expected CPI could reinforce expectations for easier Fed policy and support growth/technology stocks, bonds and gold. A hotter reading could push Treasury yields higher and pressure rate-sensitive equities. 🏭 PPI – Thursday July PPI is expected to show +0.2% MoM, compared with -0.3% in June. Current consensus also points to roughly 5.5% YoY headline PPI, although published forecasts vary by source. 👷 Jobless Claims – Thursday The latest initial claims reading was 199,000 for the week ended August 1, up from 198,000 previously. The upcoming report will provide another timely read on labor-market conditions following July's unexpected 23,000-job decline. 🛍️ Retail Sales – Friday July retail sales are currently expected to increase around 0.2% MoM, according to recent market calendars, after a 0.2% increase in June. The report will provide an important read on the strength of U.S. consumer spending. 📌 Market Theme Inflation + Fed policy + consumer spending + labor market will be the major themes this week. The CPI report is likely to have the biggest market impact, particularly for Treasury yields and growth stocks. Investors will also watch PPI for additional inflation pressure and Retail Sales for signs of consumer resilience. Key takeaway: 🔴 Hot CPI/PPI → higher yields, potentially negative for growth stocks 🟢 Cool CPI/PPI → lower yields, potentially supportive for growth/tech stocks 2026-08-10_06h40_16.png