Retailers Take Center Stage on Wall Street This Week

Wall Street is looking ahead to a busy week of retail earnings for clues about the health of the US consumer. The week kicks off on Tuesday with Home Depot reporting its earnings, followed by Target on Wednesday and Walmart on Thursday.

The reports from these major retailers will provide a snapshot of consumer spending as elevated borrowing costs, a sluggish housing market, and persistent price pressures continue to shape behavior. This is particularly important given the uncertainty surrounding inflation and jobs figures.

The Federal Reserve's July meeting minutes are also due on Wednesday, which may shed more light on the debate that led policymakers to leave interest rates unchanged. Meanwhile, oil prices have edged higher, with Brent crude trading around $88 a barrel and West Texas Intermediate at $82.