Markets enter the week of July 14–18, 2026, grappling with geopolitical risk from the resumption of hostilities between the United States and Iran, which has shattered the fragile ceasefire and sent crude oil prices sharply higher. The Strait of Hormuz, through which approximately 20% of the world's daily oil supply transits, remains the focal point of risk. Against this backdrop, traders face a pivotal week of US Consumer Price Index data, retail sales figures, and Federal Reserve speakers. The economic calendar is front-loaded with high-impact US data, beginning Tuesday with the June Consumer Price Index, where consensus forecasts point to a headline CPI print of 0.3% month-over-month. Meanwhile, the artificial intelligence sector continues to command an outsized share of global capital flows; the KXCO AI Sector Ontology tracks over $973 billion in capital flows across 81 entities, and the AI capital loop is now circulating an estimated $1 trillion.