Next week’s key news will be

Tuesday – Home sales
Wednesday – CPI
Thursday – Housing starts and permits
Friday – PCE, Durable goods, JOLTS, and personal income.

It’s going to be a data-heavy week, with Wednesday and Friday being big news days. What to watch for on CPI is if it confirms the PPI reading we saw Friday, the 27th. JOLTS will give a read on the market for jobs. But if CPI is in the same direction, the job market will need to be significantly weaker before a rate cut.