The Week Ahead
July 6 2026
Economic news
FOMC Meeting Minutes July 8th
Markets will be focused on the release of the Federal Open Market Committee (FOMC) minutes on Wednesday, July 8th1, which will provide a more detailed look at policymakers’ discussions during the Federal Reserve’s June meeting. Investors will be looking for additional insight into how Fed officials are assessing inflation, the labor market, and the outlook for interest rates following the decision to leave the federal funds rate unchanged at 3.50%-3.75%2. Any clues about the conditions that could prompt future rate changes can influence Treasury yields, the U.S. dollar, and equity markets.
U.S. Existing Home Sales July 9th
From an economic perspective, existing home sales are a strong indicator of the strength of the consumer. Despite higher home values, and a more cash-stretched consumer in general, existing home sales performed well in May with 4.17 million3; the highest level since December. Looking at June’s performance, it seems very much a question of whether the consumer has remained strong despite inflation.
June existing home sales will provide investors with another snapshot of the health of the U.S. housing market and the impact of borrowing costs on homebuyers. Stronger-than-expected sales would suggest resilient consumer demand despite elevated mortgage rates, while a weaker reading could reinforce concerns that affordability pressures are slowing housing activity.
Earnings Related Market Movers
Levi Strauss & Co. (LEVI) July 8th
Up 18% year to date, Levi Strauss is coming off a strong first quarter, where net revenues increased 14% on a reported basis, and 9% on an organic basis4. The denim maker saw strong growth globally, with 9% net revenue growth in the Americas on a reported basis, a 13% increase in Asia, and 24% in Europe. It’s also worth noting that the company’s Beyond Yoga brand saw revenues gain 23% year over year.
Looking to earnings next week, investors will likely be waiting to see if Levi Strauss stays on track for its updated full-year guidance. The company expects reported net revenue growth of 5.5% to 6.5%. It also raised its guidance for adjusted diluted earnings per share to $1.42-$1.48. The big story here has been CEO Michelle Gass’ focus on driving direct-to-consumer sales5, rather than wholesale. Thus far, it appears to be on the right track, as direct-to-consumer revenues increased 16% on a reported basis in Q1. This will likely be a primary focal point for the second quarter as well.
PepsiCo. (PEP) July 9th
PepsiCo’s quarterly results next week will offer investors an early read on consumer spending and pricing trends across the packaged-food and beverage industry in the second quarter. The company reaffirmed its full-year outlook after first-quarter results topped expectations, signaling confidence that investments in its brands, product innovation and value offerings can support demand even as consumers remain selective.
PepsiCo heads into the second quarter report after first quarter net revenue rose 8.5% to $19.4 billion, with organic revenue up 2.6%6. Earnings per share increased 27% to $1.70, while core earnings per share rose 9%, reflecting improved performance in its foods business and continued strength in international markets. The focus next week is likely to be less on the quarter itself than on management’s outlook for the second half of the year, including whether the company maintains its full-year guidance for organic revenue growth and core earnings as it navigates a pressured consumer environment.
Delta Airlines (DAL) July 10th
Up 35% year to date, Delta Air Lines will kick off airline earnings season on July 10, with investors looking for confirmation that a favorable backdrop of lower fuel costs and resilient travel demand is translating into stronger profits7. Airline stocks have rallied in recent weeks as jet fuel prices have fallen while summer booking trends have remained robust, giving carriers an opportunity to expand margins even as fares remain elevated. Analysts have pointed to constrained industry capacity, driven in part by aircraft delivery delays, as another factor supporting pricing power heading into the peak travel season.
Delta enters the report after delivering better-than-expected March quarter results, with adjusted revenue rising 9.4% year over year to a record $14.2 billion, adjusted earnings per share climbing 44% to $0.64, and adjusted pre-tax income increasing 42%. Management said broad-based strength across both corporate and leisure travel supported the quarter and guided for low-teens revenue growth, earnings per share of $1.00 to $1.50, and roughly $1 billion in pre-tax profit for the June quarter. Investors will be watching whether easing fuel prices and sustained demand allow Delta to exceed that outlook and reinforce the bullish case for the broader airline industry.
1 https://tradingeconomics.com/united-states/interest-rate
2 https://tradingeconomics.com/united-states/interest-rate/news/559793
3 https://tradingeconomics.com/united-states/existing-home-sales
4 https://s23.q4cdn.com/172692177/files/doc_financials/2026/q1/Exhibit-99-1-1Q-2026-Press-Release_FINAL.pdf
5 https://www.fool.com/investing/2026/04/11/why-levi-strauss-could-be-a-perfect-fit-for-you/
6 https://www.pepsico.com/docs/pepsico-5v9wci20/media/Files/investors/q1-2026-earnings-release.pdf
7 https://www.morningstar.com/news/marketwatch/2026063096/us-airline-stocks-are-soaring-as-cheaper-jet-fuel-and-insatiable-demand-set-up-a-summer-boom
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