Q2 earnings season kicks off next week, and it starts with a bang. The big banks report Tuesday at the same time as June CPI, Warsh testifies before Congress, and TSMC and Netflix headline Thursday. Here is your market preview for the week of July 13.
This is your market preview for the week of July 13 to 17, 2026. This market news and economic calendar roundup covers the week ahead, from the start of Q2 earnings season with JPMorgan (JPM), Goldman Sachs (GS), and the big banks, to the June CPI inflation report, Fed Chair Kevin Warsh's first testimony before Congress, and Thursday's TSMC (TSM) and Netflix (NFLX) reports. Here is what traders are watching before the open on Monday.
Market News, Week of July 13, 2026
Two big themes collide next week. Q2 earnings season begins, and FactSet is forecasting about 23.3 percent year over year earnings growth for the S&P 500, which would be a second straight quarter of growth above 20 percent. At the same time, the June CPI report and the first wave of bank earnings both hit the tape Tuesday morning, making it the key session of the week. July seasonality has historically been firm and the S&P 500 has held a bullish tone, but resumed US and Iran hostilities keep oil on watch as a wild card.
Economic Calendar, Week of July 13 to 17, 2026
The inflation data is front loaded and the new Fed Chair steps into the spotlight.
Day | Event | Why It Matters |
|---|---|---|
Tuesday, July 14 | June CPI and Core CPI | The main inflation read, expected to show some moderation. High impact. |
Tuesday, July 14 | Warsh congressional testimony begins | Fed Chair Kevin Warsh's first testimony on monetary policy. High impact. |
Wednesday, July 15 | June PPI | Producer prices, a second inflation check. Medium impact. |
Thursday, July 16 | June Retail Sales | A read on whether the consumer is holding up. Medium to high impact. |
Bank Earnings Kick Off Q2 Season
The banks open earnings season Tuesday, July 14, before the bell. JPMorgan (JPM), Wells Fargo (WFC), Bank of America (BAC), Citigroup (C), and Goldman Sachs (GS) all report the same morning. JPMorgan is expected to post around 5.62 dollars in earnings per share on roughly 49.5 billion dollars in revenue. The numbers that matter across the group are net interest income, loan and credit trends, trading revenue, and any commentary on the consumer. Because the banks report the same morning as CPI, Tuesday is the session that sets the tone for the week. Morgan Stanley (MS) and BlackRock (BLK) follow on Wednesday.
Big Tech and Chip Earnings: TSMC and Netflix
Thursday, July 16 brings the two most watched reports of the week. TSMC (TSM), the company that manufactures the most advanced chips for Nvidia, Apple, AMD, and Broadcom, gives the clearest read on AI and semiconductor demand of any single report. Given the recent volatility in chip stocks, traders will watch its guidance closely. Netflix (NFLX) also reports Thursday, with the focus on engagement trends, margins, and 2026 guidance. ASML reports Wednesday, adding another data point on the chip equipment cycle.
Unusual Options Activity
Options positioning is elevated heading into next week's earnings. Here is how the market is pricing the moves.
Ticker | Report | Implied Move | Positioning Note |
|---|---|---|---|
JPM | Tue, July 14 | About 4% | Above the roughly 2% average of the last four quarters. Call to put activity is running about 2 to 1. |
NFLX | Thu, July 16 | About 7.3% | One of the largest implied earnings moves of the week. |
TSM | Thu, July 16 | Elevated | Heavy interest into the key AI and semiconductor demand read. |
In single stock flow this week, Kenvue (KVUE) saw call volume run about 7 times its average, with more than 10,000 contracts concentrated in the July 17 20 strike calls, an example of the kind of unusual options volume worth tracking.
Options flow shows positioning for educational review only. It is not a recommendation to buy or sell. Past flow does not guarantee future direction.
What Traders Are Watching
Three things stand out. First, the Tuesday collision of June CPI and the big bank earnings, which together will drive the open and set the tone. Second, Warsh's first testimony before Congress, which comes right after hawkish June Fed minutes and could move rate sensitive sectors. Third, TSMC on Thursday as the tell for whether the AI hardware trade has more room to run after its recent swings. Oil stays on the daily watch list as long as the Iran situation is unresolved.
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Disclosure: I am not a registered financial advisor. This is educational content on market news, the economic calendar, and historical trade reviews. Trading involves risk of loss. Past performance does not guarantee future results. Nothing herein is a recommendation to buy or sell any security. Assume I have positions in tickers discussed. Do not make financial decisions based solely on this content. Trade your own decisions.