Market Watch: Traders Brace for Inflation Data and Earnings Impact

U.S. stock futures were relatively unchanged as investors await key inflation data, including the June consumer price index report and the June producer price index. The Federal Reserve's upcoming July meeting is also being closely watched, as last week's strong jobs data has raised concerns about a potential rate hike. Additionally, the second-quarter earnings season is set to begin, with major financial institutions and companies such as JPMorgan Chase, Wells Fargo, Citigroup, BlackRock, PepsiCo, and Delta Air reporting their results. WD-40 Company saw a 4.7% increase in after-hours trading after reporting solid third-quarter sales growth. Barclays has raised its 2023 price target on the S&P 500 to 4,150 from 3,725, but expects the Tech-centric rally to remain narrow.