Retail Earnings and Fed Minutes Steer Market Focus This Week

Wall Street is set for a busy week as some of the nation's biggest retailers report their latest earnings, while the Federal Reserve releases minutes from its recent meeting.

The week kicks off with Home Depot's results on Tuesday, followed by Target and Lowe's on Wednesday, and Walmart on Thursday. These updates will provide insight into how businesses and consumers are handling high inflation, which remains above 3%.

The rate of inflation has been a concern for investors, as it drives up prices for goods such as gasoline and groceries. As a result, people may cut back on spending or shift their budgets to accommodate the higher costs.

The Federal Reserve's interest rate policy will also be in focus this week, with the release of minutes from its July meeting on Wednesday. The Fed held rates steady amid worries about inflation, the jobs market, and the direction of the economy. However, three officials dissented in favor of higher rates during the meeting.

Fed Chair Kevin Warsh described the policy discussion as a 'good family fight,' indicating that there is still some disagreement among policymakers on the best course of action.