The Globe and Mail reports in its Tuesday edition that expectations for a hike in interest rates of at least 25 basis points at the U.S. Federal Reserve's meeting later this month stand at 41.2 per cent, up from the 34.2 per cent in the prior session. The Globe's Darcy Keith writes that at the September meeting, markets are pricing in a 76-per-cent chance of a hike, up from 69.6 per cent. Investors stared down what promised to be an eventful week packed with earnings, economic data and congressional testimony from Fed Chair Kevin Warsh. The Labor Department is releasing its consumer and producer price indexes this week, which will give markets and the Fed a glimpse at the extent to which the on-again-off-again U.S.-Iran war affected price growth in June. Meanwhile, the Bank of Canada releases its latest interest rate decision and monetary policy report on Wednesday. Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase and Wells Fargo will report quarterly results today, marking the unofficial start of second-quarter earnings season. Analysts currently expect aggregate second-quarter S&P 500 earnings growth of 23.7 per cent year-on-year, up from the 19.2-per-cent estimates as of April 1, according to LSEG.