Cisco Earnings and Inflation Data to Drive Market Sentiment

Earnings season is nearing its end, but key announcements are still on the horizon. Cisco Systems will report its fiscal fourth-quarter results on August 12, providing insight into the company's performance and future prospects.

The US Consumer Price Index (CPI) is expected to rise by 0.2% in July, following a 0.4% decrease in June. This modest increase could bring the annual inflation rate down to 3.4%, with core CPI growing by 0.2% month-on-month and slowing to 2.5% year-over-year.

Preliminary data indicates that Germany's consumer prices rose by 0.8% in July, exceeding expectations and sparking concerns about the European Central Bank's rate hike considerations in September.