Investors are prepping for a big week ahead, focusing on Tuesday’s U.S. consumer inflation report, China trade deadline, and Friday’s U.S.-Russia summit in Alaska. Traders are betting on a Fed rate cut due to doubts about the jobs market, with the upcoming consumer price report potentially shifting that narrative.

The Bureau of Labor Statistics is expected to report annual headline and core CPI gains to tick up to 2.8% and 3.0%, respectively, exceeding the Fed’s 2% target. Wall Street futures and Treasuries are firmer ahead of the inflation report, with S&P 500 gains bringing the index near all-time highs.

Bitcoin surged to $122,308, reacting to Trump’s executive order enabling crypto holdings in U.S. retirement accounts. European markets await Friday’s Alaska summit for possible breakthroughs on ending the Ukraine war. Nvidia and AMD agreed to give 15% of revenue from China AI chip sales to the U.S. government.

U.S. multinationals face calls for a boycott in India over U.S. tariffs, while investors anticipate a correction in high-priced corporate credit. The crude oil market’s calm response to U.S. threats to India over Russian oil purchases signals expectations of little action. Statistical literacy is crucial in understanding financial data, as fumbles in data presentation confuse readers. China’s producer prices fell more than expected in July, reflecting sluggish demand and trade uncertainty.

Read more at Yahoo Finance: Waiting on CPI, China and Alaska