The Fed may stay on hold, but hike risks are rising. What might that mean for Treasury yields and bond portfolio positioning?

The July Consumer Price Index rose 0.1% and core inflation was up 0.2%, which Schwab experts say may keep the Fed on hold. A $42 billion 10-year Treasury auction is on tap today.

Rising oil and stubbornly high yields sent stocks down Tuesday for the fourth session in five as investors await today's CPI data. Headline CPI is seen at 0.1%, with core at 0.2%.

Futures markets are in focus as investors await July CPI data, with inflation expectations, Federal Reserve outlook, and moves in energy and grain markets shaping today's trading environment.

Though tomorrow's CPI data is the week's big report, several AI infrastructure firms share results later and eyes are on oil and Iran. There's little progress toward a resolution.

The old week ended with a new record for the S&P 500, helped by falling yields as rate hike odds dropped on a weak jobs report. Yields and oil, along with Iran, remain watchwords.

Tech and AI are driving a greater share of global equity market returns and earnings growth, raising concentration risks and the need for broader diversification.

With CPI and PCE on tap for this week, Schwab's Kevin Gordon focuses on the impact of inflation on small businesses in the U.S. in his look at the Week Ahead.