Tomorrow's Headliners: CPI Data

Much like today, Wednesday's session looks to be a busy one on the earnings and economic data front, with several key reports scheduled for release.

The central report on Wednesday's economic docket will be the latest read on the Labor Department's consumer price index, expected at 8:30 a.m. EDT. The headline number, which measures inflation on the consumer level, is expected to have risen 0.6% in June after a 0.1% increase in May. The core figure, which excludes food and energy, should rise 0.1%, according to economists polled by Reuters.

However, a hotter-than-expected June reading on the producer price index Tuesday has some wondering if the CPI will also show rising inflationary pressure. The Labor Department said the June reading for its producer price index came in at 1.8%, the largest jump since November 2007. The core number climbed a larger-than-expected 0.5% last month. ...