Wall Street enters the week focused on the start of second-quarter earnings season, the Federal Reserve's latest meeting minutes, and economic data that could shape the outlook for interest rates and the AI-driven rally. Key events include Wednesday's release of the June FOMC minutes, the ISM services PMI, and earnings from PepsiCo and Levi Strauss. XTB research director Kathleen Brooks said the minutes will be a main catalyst as investors seek evidence of how policymakers weigh persistent inflation against a slowing labor market. She added that Treasury yields and semiconductor stocks remain in focus after recent volatility raised questions about the pace of AI infrastructure spending, though she views the weakness as a pullback rather than a reversal. Swissquote senior analyst Ipek Ozkardeskaya expects technology valuations to stay a central theme, with SpaceX's addition to the Nasdaq-100 likely to increase index volatility. Speeches from Fed officials including Governor Christopher Waller and New York Fed President John Williams will also be monitored for policy signals.
PepsiCo Incearnings from PepsiCo are listed as a key event, but no details on results or impact
Levi Strauss & Co Class A
NVIDIA Corporation