Wall Street's week ahead: Bank earnings, CPI headline busy markets week as S&P 500 hovers near records

U.S. markets are heading into a busy week that could clarify corporate profit strength and the path for interest rates, with major bank earnings and the next inflation read. The S&P 500 hit an all-time closing high on Tuesday—its first since mid-August—and is up more than 13% year to date, despite declines Wednesday and Thursday. Next Wednesday’s CPI is among the last major data releases before the Federal Reserve’s late-October meeting. Last month the Fed raised rates for the first time since 2023 to contain inflation. Banks including JPMorgan, Goldman Sachs, Citigroup and Wells Fargo report Tuesday, followed by Morgan Stanley and Bank of America on Wednesday. The September CPI is expected to rise 3.6% annually, with core up 2.5%.