Levi's, PepsiCo and Delta Head Light July 6-10 Week as Markets Watch 50-Day Chip Support
Updated
Updated · CNBC · Jul 5
Levi's, PepsiCo and Delta Head Light July 6-10 Week as Markets Watch 50-Day Chip Support
3 articles · Updated · CNBC · Jul 5
Summary
Levi Strauss on Wednesday, PepsiCo on Thursday and Delta Air Lines on Friday are the week's main earnings reports, offering fresh reads on U.S. consumer spending, food inflation and travel demand.
WTI crude has fallen 27% in a month, but average U.S. gasoline prices are down only 10.5%, a gap that could still weigh on discretionary purchases and shape management commentary.
Monday's S&P Global and ISM services PMIs, Wednesday's Fed minutes and Thursday's existing home sales will test whether a weaker June jobs report is spilling into services activity and housing.
Semiconductor shares enter the week under pressure, with SOXX and SMH trading within a few percentage points of their 50-day moving averages after a late-week AI selloff.
The relatively quiet July 6-10 calendar precedes the July 13-17 start of second-quarter earnings season, when major banks report alongside June inflation data.