July's U.S. stock market likely won't be too quiet. On one hand, Microsoft, Google, Meta, Amazon, Apple and other tech giants will report earnings one after another; on the other hand, there is the FOMC interest rate decision. Earnings determine company fundamental expectations, while the FOMC affects the overall market's valuation and capital sentiment. When these two events collide, volatility is likely to be significant. At times like this, I usually don't rush to guess which stock will go up first, but instead check whether my own funds are ready.