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Stock futures are flat ahead of a key inflation data week for Wall Street and the kickoff of second-quarter earnings season

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Wall Street is entering its first full trading week for July with two key inflation reports due out this week and the kickoff of second-quarter earnings season.

This week's inflation data follows a rate hike skip at the June Federal Open Market Committee meeting. The consumer price index report is due out Wednesday morning, followed by the central bank's preferred gauge of wholesale price pressures, the producer price index, on Thursday.

. Despite non-farm payrolls growth cooling somewhat, investors signaled that the still churning economy is enough for the Federal Reserve to continue on with benchmark interest rate hikes.

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