Wall Street eyes a data-heavy week; US June inflation and big-bank earnings land Tuesday

Wall Street traders head into a data-heavy week overshadowed by the return of US-Iran tensions and renewed energy-price gains. Monday, July 13, carried no major data or earnings and was expected to be quiet.

The focus falls on Tuesday, July 14: the release of the US June Consumer Price Index (inflation) and the start of earnings season, with reports from big banks including JPMorgan Chase, Bank of America, Goldman Sachs, Wells Fargo and Citigroup. Federal Reserve Chair Kevin Warsh also testifies before Congress this week. The market's main worry is that with the US-Iran ceasefire over and energy prices rising again, inflationary pressure will persist. The US 10-year Treasury yield was little changed at 4.541% on Friday.