Fed Minutes and Earnings Drive Wall Street Expectations

The week ahead will be crucial for Wall Street investors as they wait for key economic data and Federal Reserve minutes. The central bank's policy meeting minutes, scheduled for release on Wednesday, will provide insight into the discussions among policymakers regarding interest rates.

The minutes could give clues about whether a rate increase is possible in September, with expectations weakened following softer-than-anticipated US employment data and easing inflation. Currently, US money markets price a 27% probability of a 25-basis-point rate hike at the Fed's next meeting.

Retailers' quarterly results will also be closely watched, particularly from Walmart, Target, Home Depot, Costco, Kroger, and Albertsons. Several economic reports are due during the week, including preliminary US purchasing managers' data for August and industrial production figures.