Recent inflation data showed a surprising uptick, contrary to market expectations of controlled inflation and potential rate cuts.

CPI numbers released on Tuesday indicated a trend of higher inflationary pressure, although not as severe as in 2021 or early 2022.

The PPI, also released Thursday, has been on the rise, but is expected to remain steady at 3%. Both CPI and PPI data are significant market movers and crucial for Federal Reserve policy decisions, given their impact on inflation.

Additionally, upcoming retail sales data, expected on Thursday at 8:30 a.m. Eastern Time, will provide insights into consumer behavior and economic growth.

Despite a recent decline in retail sales, expectations are optimistic for an improvement, with some retailers already reporting strong numbers.

Key earnings announcements throughout the week include companies like Oracle, Casey's General Store, Kohl's, Guess, Lenar, Adobe, Dollar General, Dick's Sporting Goods, Ulta Beauty, and Jabble.

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