Retailers Face Inflation Headwinds as Fed Minutes Loom

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, and then Walmart on Thursday. These reports will provide insight into how businesses and consumers are handling high inflation.

The rate of inflation remains above 3%, and the recent surge in oil prices due to the US-Iran conflict has led to higher gasoline prices. This could lead people to cut spending or shift their budgets, affecting retailers that sell goods shipped from other countries.

Home Depot's results may also shed light on the housing market, as consumers may be less likely to invest in home improvements if they are worried about inflation and recession.

The Federal Reserve will release minutes from its July meeting on Wednesday, which could provide more details on its interest rate policy. The Fed held rates steady last month amid concerns over inflation, jobs, and the economy, but three officials dissented in favor of higher rates.