Wall Street week ahead: Home Depot and Walmart report earnings, minutes of Fed meeting are released

Wall Street will receive financial updates from major retailers this week, including Home Depot and Walmart's earnings reports. The Federal Reserve also released minutes from their July meeting, providing more insight into the central bank's interest rate policy. Home Depot is set to report its latest results on Tuesday, followed by Target and Lowe's on Wednesday, and Walmart on Thursday.

These reports will help investors understand how businesses and consumers are coping with inflation that remains above 3%. The ongoing U.S. conflict with Iran has driven up oil prices, which in turn have increased gasoline and grocery prices. This could lead consumers to adjust their spending habits. The housing market may be influenced by the results from Home Depot and Lowe's, as these reports could indicate whether people are investing more or less in home improvements.

Retail giants Target and Walmart's earnings and forecasts will shed light on how households are allocating their budgets. During the July meeting, the Federal Reserve decided to maintain its interest rates, despite three dissenting officials who argued for higher rates. Fed Chair Kevin Warsh described the policy debate as a "good family fight." Economists expect at least one interest rate increase before the end of 2026.