Investors are awaiting the consumer price index reading for June.
Investors are eyeing the June consumer price index reading due before the bell Wednesday. Economists polled by Dow Jones anticipate the closely followed inflation indicator will rise 0.3% from May and 3.1% on an annualized basis. Excluding volatile food and energy prices, the so-called core CPI is forecasted to increase 0.3% on the month and 5% on the year.
June data for the producer price index — another well-watched gauge of inflation — is due Thursday before the bell. Both price indexes are being watched for tea leaves on the path of inflation, which investors see as potential harbingers for how the Federal Reserve will move interest rates going forward.
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