Market Watch: Anticipating a Pivotal Week for Wall Street and Global Economy

This week, investors will be closely watching the Federal Reserve's July meeting, where a quarter-point interest rate hike is expected. They will also pay attention to any commentary from Fed Chair Jerome Powell regarding future rate hikes. Additionally, the release of the Personal Consumption Expenditures price index data for June will be significant. Big Tech earnings, particularly from Alphabet, Microsoft, and Meta Platforms, will be closely monitored as their stocks have seen significant gains. Workplace safety is also a concern as a heatwave sweeps across the United States, with the Occupational Safety and Health Administration having limited power to protect workers in extreme heat conditions.