Here are the 3 big things we're watching in the stock market this week

The stock market calendar entering the week looks calm before the earnings “storm,” but activity is set to rise in the first full week of July. After a shortened Independence Day trading period and the June jobs report, attention shifts to July 13–17, when second-quarter earnings season officially begins for major banks. The schedule also includes June inflation data, with investors watching for signs of a peak in oil-driven inflation. In earnings, Levi Strauss reports Wednesday evening, PepsiCo Thursday morning, and Delta Air Lines before the bell Friday. The previews focus on how consumers manage budgets amid oil-related price pressures, and how food demand responds to inflation and GLP-1 adoption trends. Delta is framed as the most informative report, given flight travel’s economic weight.