Wall Street braces for Fed signals as earnings season gets underway

Wall Street is entering the week with the S&P 500 in focus as investors balance the start of Q2 earnings season against key Federal Reserve signals and mixed macro data. The main market catalyst is Wednesday’s release of the June FOMC minutes, which could clarify how policymakers are weighing sticky inflation versus a cooling labor market. The ISM services report and a series of Fed speeches may further shape rate expectations. Technology and AI-linked stocks remain a major theme after recent semiconductor volatility raised questions about the pace of AI infrastructure spending, though the article frames the pullback as a pause rather than a trend reversal. Earnings from PepsiCo and Levi Strauss also help set the tone for broader risk appetite. Overall, the article suggests markets may stay volatile as investors reassess growth, rates, and stretched tech valuations.