Fed Minutes, Powell, Inflation Data on Tap

Powell will join a number of Fed speakers, while the FOMC minutes are also due

The first full trading week of July will be relatively quiet on the earnings front, but there's plenty of action on the economic side. In addition to a pair of inflation updates, several central bank speakers -- including repeat performances from Fed Chair Jerome Powell -- and the Federal Open Market Committee's (FOMC) June meeting minutes will be in focus, as traders look for support for a potential July rate cut.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates.

There are no notable economic reports slated for Monday, July 8. The earnings calendar is also bare.

The Job Openings and Labor Turnover Survey (JOLTS) is due on Tuesday, July 9, while speeches from Fed Chair Jerome Powell, St. Louis Fed President James Bullard, and Fed Vice Chair Randal Quarles will also be in focus. PepsiCo (PEP) will report earnings.

The Fed will be front and center on Wednesday, July 10, with Powell and Bullard taking the stage again, and the minutes from the latest FOMC meeting expected mid-afternoon. The weekly crude inventories report will also be released. AngioDynamics (ANGO) and Bed Bath & Beyond (BBBY) will step into the earnings confessional.

Thursday, July 11, brings the consumer price index (CPI) weekly jobless claims, and the Treasury budget are on tap, as is a speech from New York Fed President John Williams. Minneapolis Fed President Neel Kashkari will take the mic after the close. Earnings from Delta Air Lines (DAL) and Fastenal (FAST) are due.

The producer price index (PPI) will be unveiled on Friday, July 12. Infosys (INFY) earnings will be released.