On the 15th, the U.S. stock market will focus on the June Producer Price Index. The previous day's June Consumer Price Index came in below market expectations, causing early U.S. rate hike expectations to recede. Today's PPI is also expected to show a slower month-on-month increase, and if the data is weaker than expected, the fading rate hike expectations will support stock prices. However, expectations for a September rate hike remain persistent, and if the PPI exceeds market forecasts, moves pricing in a rate hike this year are likely to cap upside. In the Senate, Fed Chair Powell will testify before Congress, but having just testified in the House yesterday, the market reaction may be limited.