Wall Street will have its hands full next week with the eagerly anticipated June consumer price index (CPI) report and the start of the earnings season.

The economic calendar will be dominated by the CPI report and Federal Reserve chair Jerome Powell's testimony to Congress.

The CPI print is forecast to show a 0.1% M/M rise in inflation, while the annual core inflation rate is expected to be unchanged at 3.4%.

The spotlight will also be on the second-quarter earnings season, which will be kicked off by top U.S. carrier Delta Air Lines (DAL) and soft drink giant PepsiCo (PEP), along with major banks including Citigroup (C), JPMorgan Chase (JPM), and Wells Fargo (WFC).

Earnings spotlight: Monday, July 8 - Greenbrier (GBX). See the full earnings calendar.

Earnings spotlight: Tuesday, July 9 - Helen of Troy (HELE) and Kura Sushi (KRUS). See the full earnings calendar.

Earnings spotlight: Wednesday, July 10 - Manchester United (MANU) and PriceSmart (PSMT). See the full earnings calendar.

Earnings spotlight: Thursday, July 11 - Delta Air Lines (DAL), PepsiCo (PEP), and Conagra Brands (CAG). See the full earnings calendar.

Earnings spotlight: Friday, July 12 - Citigroup (C), JPMorgan Chase (JPM), Bank of New York Mellon (BK), and Wells Fargo (WFC). See the full earnings calendar.

IPO watch: There are no new IPOs expected to begin trading during the week. The IPO lockup period expires on a block of shares of Smith Douglas Homes (SDHC). The quiet period expires on Tempus AI (TEM) to free up analysts to post ratings. At the time of publication, Tempus AI traded about 15% below where the IPO was priced.