Retailers and Fed to Unveil Key Earnings and Rate Hints
Wall Street is bracing for a week of earnings reports from major retailers and fresh details on the Federal Reserve's interest rate policy.
The week kicks off with Home Depot releasing its latest quarterly results on Tuesday, followed by Target and Lowe's on Wednesday. Walmart wraps up the trio with its own earnings announcement on Thursday.
The retail giants' performances will provide valuable insights into how consumers are handling high inflation, which has lingered above 3% for a while now.
Higher prices for gasoline, groceries, and other shipped goods may prompt households to adjust their spending habits. The results from Home Depot and Lowe's might also offer clues about the state of the housing market, with people possibly cutting back on home improvements.
The Federal Reserve will shed more light on its interest rate policy when it releases minutes from its July meeting on Wednesday. At that gathering, Fed officials voted to keep rates steady amid concerns about inflation, the jobs market, and economic growth.