Fed Minutes and Retail Earnings Loom Large for Wall Street

Wall Street investors will be closely watching the minutes of the Federal Reserve's latest policy meeting for clues about the central bank's thinking on interest rates.

The Fed minutes, scheduled to be released on Wednesday, are expected to provide further insight into the discussions among policymakers when they decided to keep US interest rates unchanged.

Expectations for an imminent rate hike have weakened following softer-than-anticipated US employment data and a modest easing in inflation.

US money markets are currently pricing in just a 27% probability of a 25-basis-point rate increase at the Fed's next meeting in September, according to LSEG data.