last week seemed to reduce the likelihood of a recession, allowing the central bank the capacity for more aggressive rate hikes as it looks to rein in inflation.
Wednesday's July consumer price index is expected to offer some clarity on the path of interest rate hikes.A survey of small business owners by the National Federation of Independent Business for July will be released at 6 a.m. ET. Preliminary second-quarter productivity figures and unit labor costs are both scheduled to be released at 8:30 a.m. ET.
The U.S. Treasury on Tuesday will auction $34 billion in 52-week bills and $42 billion in 3-year notes.
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