BlockBeats News, July 11th. This week, the tension between the US and Iran escalated sharply. Both sides launched attacks, causing the fragile ceasefire agreement that had been maintained for about three weeks to collapse. The inflationary pressure driven by the rise in oil prices has reignited expectations of the Fed tightening its policy. Meanwhile, the US stock market almost ignored geopolitical uncertainty. The "AI Trading" frenzy surged again, with the S&P 500 index approaching a new historic high and both the S&P 500 and Nasdaq recording two consecutive weekly gains. SK Hynix's ADR soared 13% on its first day of trading, and its fundraising amount of $26.5 billion made it the highest foreign company IPO in US stock market history. In the upcoming week, the US-Iran situation, US CPI data, Fed officials' speeches will shake Wall Street's nerves. People are especially looking forward to Fed Chair Powell's testimony in Congress, hoping he can provide more clues on the interest rate outlook, although his determination to abandon forward guidance makes it difficult to hold high hopes. Here is a preview of next week's macroeconomic events:

Monday

Fed Governor Waller speech

Tuesday

US ADP Employment Change up to June 27th

US June CPI, Core CPI

Fed Chair Powell testifies at the House Financial Services Committee's "Semiannual Monetary Policy Report"

2027 FOMC Voter and Chicago Fed President Guerts participate in a fireside chat

US June PPI, Core PPI

FOMC Permanent Voter and NY Fed President Williams speech

Fed Chair Powell testifies at the Senate Banking, Housing, and Urban Affairs Committee's "Semiannual Monetary Policy Report"

Fed releases Beige Book

Thursday

US Initial Jobless Claims up to July 11th, US June Retail Sales MoM, US July Philly Fed Manufacturing Index

2026 FOMC Voter and Dallas Fed President Kaplan speech

Fed Vice Chair Clarida speech on the economy and monetary policy