Second-quarter earnings season shifts into high gear this week as major U.S. banks report results alongside pivotal inflation readings. JPMorgan Chase, Goldman Sachs, Bank of America, Citigroup and Wells Fargo publish quarterly figures on Tuesday, with Morgan Stanley and Bank of New York Mellon following on Wednesday.
The week also brings key macroeconomic signals, including the Consumer Price Index on Tuesday and the Producer Price Index on Wednesday. Federal Reserve Chair Kevin Warsh delivers semiannual testimony before Congress on both days, while the Fed's Beige Book lands Wednesday. Analysts project S&P 500 companies will post profit growth exceeding 23 percent, with U.S. banks expected to deliver roughly 10 percent gains.
In Europe, DAX companies are forecast to see profit growth of five to 12 percent, while chip equipment maker ASML reports Wednesday. More than 20 Finnish companies publish quarterly results throughout the week, including Nordea, Fiskars and Nokia Tyres on Thursday and Friday.