Retail Earnings and Fed Minutes to Set Wall Street Agenda

Wall Street investors are in for a busy week as several major retailers report their earnings. Home Depot will release its latest results on Tuesday, followed by Target and Lowe's on Wednesday. Walmart's results come out on Thursday.

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

Home Depot's and Lowe's results may offer clues about the state of the housing market, including whether people are spending more or less on home improvements. Meanwhile, Target and Walmart's reports will shed light on household budgets and spending habits.

The Federal Reserve will also release minutes from its July meeting on Wednesday. Although the Fed kept interest rates steady in July, three officials dissented in favor of higher rates during the discussion. Fed Chair Kevin Warsh described the policy debate as a 'good family fight.'

Wall Street economists expect at least one rate hike before the end of 2026.