Morning Business Report: Wall Street watches inflation reports, Trump-Putin meeting as stocks near records

Wall Street is gearing up for a pivotal week ahead, featuring key economic data releases and a highly anticipated meeting between U.S. President Donald Trump and Russian President Vladimir Putin.

(LILAMAX)- Wall Street is gearing up for a pivotal week ahead, featuring key economic data releases and a highly anticipated meeting between U.S. President Donald Trump and Russian President Vladimir Putin.

Investors will closely watch two important inflation reports: the Consumer Price Index (CPI) and the Producer Price Index (PPI), alongside retail sales data. These indicators will offer insight into the health of the economy and inflationary pressures.

Friday marks the scheduled summit between Trump and Putin, a meeting with the potential to influence global stock markets and oil prices significantly.

In corporate news, Rockwell Automation announced plans to invest $2 billion to strengthen its U.S. operations. The company, known for helping businesses digitize, will focus its spending in Ohio and Wisconsin to upgrade facilities and hire additional workers.

Stock markets continue to flirt with record highs. The Nasdaq closed at a record high last Friday, while the Dow remains about 800 points shy of setting a new milestone.

Meanwhile, Hollywood’s summer box office season is dominated by sequels and remakes, a strategy that appears to be paying off. Since early May, the domestic box office has rebounded robustly, grossing $3.26 billion according to Comscore. Notable hits include “Superman,” “Lilo & Stitch,” and “Mission Impossible.”

On the consumer front, many Americans are making financial sacrifices to afford feel-good experiences — like spending upwards of $200 for a Taylor Swift concert ticket. This trend, dubbed “treatonomics,” mirrors the historical “lipstick effect,” where people indulge in smaller, affordable luxuries during uncertain economic times.