Retail Earnings and Fed Minutes Spark Wall Street Interest

Wall Street is gearing up for a busy week ahead as several major retailers report their quarterly earnings. Home Depot will kick off the reporting season on Tuesday, followed by Target and Lowe's on Wednesday, and Walmart on Thursday.

The earnings reports from these retail giants will provide valuable insights into how consumers are handling high inflation rates. The current rate of inflation remains above 3%, with oil prices surging due to the ongoing US-Iran conflict, which has led to higher gasoline prices.

Home Depot and Lowe's results may offer a glimpse into the housing market, while Target and Walmart's reports will provide more information on household spending habits. Additionally, the Federal Reserve will release minutes from its July meeting, where officials discussed interest rate policy amidst concerns about inflation, the job market, and economic growth.

The Fed kept interest rates steady in July, but three officials dissented in favor of higher rates, with Chairman Kevin Warsh describing the discussion as a 'good family fight.' Wall Street expects at least one rate hike before the end of 2026.