Retailers Face Big Week Amid Consumer Spending Worries

Futures are mixed as major retailers prepare for a big week ahead, amidst concerns over the state of the U.S. consumer.

The Commerce Department reported that Americans unexpectedly pulled back on retail spending in July by the biggest amount in more than a year, which has raised questions about the economy's momentum.

Walmart and Target are set to release their second-quarter earnings this week, with Target expected to report strong growth under its new CEO, Michael Fiddelke. Home Depot and Lowe's will also share their quarterly results.

The retail sector is grappling with stubborn inflation and price-sensitive customers, which has dimmed the chances of an interest rate hike from the Federal Reserve.