In the upcoming week, U.S. stocks will take a break from the usual market drivers of Europe, the Federal Reserve and Congress and will instead look to retail earnings and economic indicators for market moves.
Economic data for the week will kick off on Tuesday with July retail-sales figures, followed by the July consumer-price index and the August Empire State index on Wednesday. On Thursday, there’s August Philly Fed Index.
Look for a barrage of retail earnings reports throughout the week.
From Europe, there will be news on Tuesday from the European Union statistics agency as it issues its inaugural estimate of second-quarter gross domestic product and Greece’s government will auction EUR 3.125 billion of 13-week treasury bills.
Let’s take a look at the week ahead.
Tuesday: July NFIB small-business survey, July retail sales, July producer price index and June business inventories.
Wednesday: July consumer price index, August NY Fed Empire State manufacturing survey, July industrial production, July capacity utilization, and August housing market index.
Thursday: Weekly jobless claims, July housing starts, July building permits and August Philly Fed manufacturing survey.
Friday: August Reuters/UMich consumer sentiment and July Leading Index.
Thursday: Wal-Mart (NYSE:WMT), Sears (NASDAQ:SHLD), Gap (NYSE:GPS), Marvell Tech (NASDAQ:MRVL), Aeropostale (NYSE:ARO), Dollar Tree (NASDAQ:DLTR), Perry Ellis (NASDAQ:PERY), Ross Stores Inc. (NYSE:RST).