This week will bring a heavy load of earnings and economic data for traders to consider.

Earnings season begins anew with major financial institutions kicking things off per usual, as traders also digest the opening of trading for the South Korean memory chip manufacturer SK Hynix (SKHY and SKHYV) that could bring even more activity into the already red-hot semiconductor sector.

The S&P 500 (SPX) finished the week with a 1.2% gain, a recovery from recent lows near 7,237 in early June. The Nasdaq-100 (NDX) climbed 1.7% but also made new relative lows near 28,814 that exceeded the bottom formed during the last two weeks around 28,890. Meanwhile, the Dow Jones Industrial Average ($DJI) pushed into new all-time highs of about 53,289 but finished lower on the week with a 0.5% decline.

Oil markets were roiled by hostilities between the U.S. and Iran, with President Donald Trump suggesting that the ceasefire agreement is over. That contributed to market churn that eventually resulted in a roughly 4.5% weekly increase in U.S. oil futures (/CL). Gold futures (/GC) were little changed on the week, while Bitcoin futures (/BTC) extended their rally off the 52-week lows near 57,850 last week.

Three things to watch this week:

Earnings: Big banks will start things off for this quarter’s wave of earnings, with names like JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Wells Fargo (WFC), and Citigroup (C) leading the charge on Tuesday. Other financial sector heavy hitters Morgan Stanley (MS) and BlackRock (BLK) come Wednesday, and large regional bank names are also on the docket next week including PNC Financial Services Group (PNC), U.S. Bancorp (USB), and Truist Financial (TFC). Other sectors to watch include Semiconductors with Taiwan Semiconductor (TSM) and ASML Holding (ASML) as well as Healthcare with Johnson & Johnson (JNJ) and UnitedHealth Group (UNH). Other notable names rounding out the list include Netflix (NFLX), United Airlines (UAL), and GE Aerospace (GE).

Economic Data: Markets will get more perspective on inflation this week with the Consumer Price Index (CPI) on Tuesday and the Producer Price Index (PPI) on Wednesday. Noteworthy employment data includes ADP Employment Change and Jobless Claims. Traders also get a read on the housing market with the NAHB Housing Market Index and Housing Starts near the end of the week.

Options Market: Friday, July 17 marks monthly options expiration, so be on the lookout for heightened volatility.

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