Here’s your look at what's happening in markets for the week ahead.

1. Donald Trump speech at GOP convention

Former President Donald Trump was the target of an attempted assassination during a campaign rally in Butler, Pennsylvania. The assailant fired shots at Trump, hitting him in the right ear before being neutralized by security forces.

The incident occurred as Trump was addressing his supporters. According to Trump's own account shared on his Truth social media platform, he heard the sound of gunfire and felt the bullet as it pierced his skin.

Despite the attack, Trump was able to speak after the event, urging his audience to "Fight! Fight! Fight!"

Trump will receive his party's official nomination for US election this week at the four-day Republican National Convention in Milwaukee. His speech could be the first public appearance since the attempted assassination.

2. Fed Chair Powell speaks

Fed Chairman Jerome Powell will be interviewed by David Rubenstein at the Economic Club of Washington DC. A session including questions is scheduled after the interview. 

In his recent testimony on Capitol Hill, Powell highlighted the central bank's ongoing efforts to tackle inflation and its commitment to a dual mandate.

Powell also expressed cautious optimism about inflation trends, noting some confidence in inflation moving down towards the 2% goal.

However, he clarified that it was premature to assert that the trend towards the 2% target would be sustainable.

3. Earnings season continues

The Q2 earnings season has started last week, and it will continue as soon as Monday when Goldman Sachs and BlackRock (NYSE:BLK) are scheduled to report on their financial performance.

Later in the week, Bank of America, Morgan Stanley, ASML (AS:ASML), and Netflix (NASDAQ:NFLX) are also due to report their results.

Wall Street is expecting a very strong earnings season, much of which is already baked into current stock valuations. 

4. ECB interest rate decision

The European Central Bank (ECB) is widely expected to maintain its current rates after they eased in June. 

"We expect the ECB to be on hold at the July meeting. The press conference should focus on the future rate path and the developments in France," Morgan Stanley said in a note.

5. Jobless claims, Retail sales, Fed's Beige Book

Many pieces of economic data are expected to be released this week.

Among other things, the Federal Reserve will publish its Beige Book report, which is a collection of anecdotal information on current economic conditions from each of the twelve Federal Reserve Districts.

The report for the June FOMC meeting period highlighted that economic activity has continued to expand during the spring season. However, the expansion has been uneven across different sectors and districts.

The Beige Book detailed that businesses have observed a weakness in discretionary spending, attributing this to an increased price sensitivity among consumers.

Jobless claims and retail sales data are also due in the week ahead.