Retailers and Fed Minutes Set to Provide Clues on Inflation Impact
Wall Street investors will be closely watching several key earnings reports and economic indicators this week as they try to gauge the impact of high inflation on businesses and consumers.
The big-box retailers Home Depot, Target, Lowe's, and Walmart will all report their quarterly results, with Home Depot and Lowe's releasing theirs on Tuesday and Wednesday respectively. Their earnings will provide insight into how households are budgeting and spending as well as the state of the housing market.
Walmart's results, to be released on Thursday, will also give investors a better understanding of consumer spending habits in the face of inflation.
The Federal Reserve will also release minutes from its July meeting, which saw no interest rate hike amid concerns about inflation and the economy. However, three Fed officials dissented in favor of higher rates during the meeting, with Chairman Kevin Warsh describing the discussion as a 'good family fight.'