Investors are keeping a close eye on key inflation data to gauge the future of the market rally, with stock futures edging lower Sunday night. The S&P 500 has seen a significant 16.7% rally this year, with optimism surrounding potential Federal Reserve interest rate cuts. The upcoming release of the June consumer price index and producer price index data will provide further insight. Despite labor market data showing more jobs added in June than expected, an unexpected rise in the unemployment rate has spurred expectations of rate cuts in 2024. Major financial giants and consumer companies are set to release earnings, with the likes of Citigroup and JPMorgan Chase leading the way. Stocks are coming off a strong week, reaching all-time highs, with the S&P 500 and Nasdaq Composite closing at record levels. Overall, market sentiment remains positive as investors await upcoming data releases and earnings reports.