Economists expect the US headline inflation to have grown at a faster pace of 2.8% on year, against a 2.7% increase in June. In the same period, the core CPI – which excludes volatile food and energy prices – rose by 3.0%, faster than the prior reading of 2.9%.

U.S. stocks end mixed but off record highs after a drop in consumer sentiment. However, stocks still end the week higher.

Amazon stock plunged 8% in premarket trades Friday. The e-commerce giant reported second-quarter results that topped Wall Street's expectations, but gave a mixed outlook. For the current quarter, Amazon predicted sales of $176.75 billion at the midpoint of its range, compared with analyst expectations for $173.27 billion.

On Monday, Trump said he would nominate economist E. J. Antoni, a longtime critic of the bureau, as commissioner. Antoni has since faced scrutiny after he suggested the agency suspend its monthly jobs report in an interview with Fox News Digital earlier this month.

On Wall Street, stocks of companies that could benefit most from lower interest rates helped lead the way. PulteGroup climbed 5.4%, and Lennar rose 5.2% as part of a broad rally for homebuilders and others in the housing industry. Lower rates could make mortgages cheaper to get, which could spur more buying.

The U.S. stock market on Tuesday rose toward records after data suggested inflation in July was a touch better than economists expected.

AM ET, the S&P 500 added 0.6%, the Dow Jones Industrial Average was up 0.4%, and the Nasdaq Composite was 1.1% higher.

The United States Census Bureau is set to release retail sales data for July on Friday, and Wall Street expects a 0.5% increase during the month over June, according to a Dow Jones estimate cited by MarketWatch.

A vote of confidence by Warren Buffett’s Berkshire Hathaway delivered the Dow laggard its best day since 2020.