Wall Street will be attuned to Washington next week as Fed chair Jerome Powell takes the hot seat.
He'll give his economic outlook before the Congressional Joint Economic Committee Wednesday. On Thursday, he'll testify before the House Budget Committee. Before all that, on Tuesday, his frequent critic, President Donald Trump, will address trade and economic policy at the Economic Club of New York.
On the economic calendar, the Labor Department reports inflation data Wednesday. Economists forecast a 0.3% rise in consumer prices in October after they finished flat in September. The next day, we get data on inflation at the wholesale level: producer prices are also expected to increase 0.3%.
In corporate news, Walmart will likely report a rise in quarterly revenue on Thursday, lifted by strength in its online and grocery businesses. On Tuesday. Disney launches its much-hyped streaming service in the U.S., Canada, and the Netherlands.