字幕表 動画を再生する 英語字幕をプリント Hi, this is Jeff Kleintop with 90 seconds on what we're watching this week. Now, the market will be focused on the earnings reporting season kicking off, including reports from JP Morgan and Goldman Sachs on Tuesday and Bank of America and Wells Fargo on Wednesday. The market's direction may hinge on the push and pull between rising earnings favoring cyclicals and the rise of the Delta variant favoring defensives. Despite strong economic and earnings reports markets have rotated away from reopening and cyclical stocks in recent weeks as the growth risks from the Delta variant intensify. If the current virus waves ease, or attention turns to the solid earnings reports, it could mean a rotation back toward cyclical stocks that lead most of this year. It could also mean a rise in bond yields after the recent drop. Now, despite the increase in Delta variant cases, the U.K. confirmed an end to lockdowns this week thanks to widespread vaccinations keeping hospitals from being overrun. U.K. trends over the next two to three weeks will be key to watch as they may indicate what could be in store elsewhere as global health experts warn that restrictions may make a return, raising risks to growth. Fed Chair Powell delivers his semiannual testimony on monetary policy to the house on Wednesday and the Senate on Thursday. Expect lots of questions on inflation. And we get the June inflation readings on Tuesday. The Consumer Price Index is expected to tick down slightly to 4.9% year-over-year, even as the monthly rise continues at a strong 0.5% pace. Thanks for watching.