Retail rivals face-off: Home Depot vs. Lowe's and Walmart vs. Target
The third-quarter earnings parade continues next week, and here's what the market will be watching.
On the earnings calendar, retail rivals in the home improvement and big-box arenas will face off. Home Depot (HD) and Walmart (WMT) report on Tuesday, followed by Lowe's (LOW) and Target (TGT) on Wednesday. On Thursday, we hear from Best Buy (BBY).
The markets will be closely watching Gap's (GPS) results on Thursday. The stock tanked this week, forewarning that its third-quarter results will be weaker-than-expected on falling global same-store sales. Friday wraps up with retailers Abercrombie & Fitch (ANF) and Foot Locker (FL) posting quarterly results.
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On the economic front, data releases to note include the Consumer Price Index, out at 8:30 a.m. on Tuesday, followed by the Industrial Production Index at 9:15 a.m.
On Wednesday, Housing Starts and Building Permits release at 9:15 a.m. But the big highlight of the day may be at 2:00 p.m., when the FOMC releases the minutes from the Federal Reserve's October meeting.
Initial jobless claims are out at 8:30 a.m. on Thursday. The Philadelphia Fed's manufacturing report will also release, with data now being posted at 8:30 a.m. from its usual time of 10:00 a.m. Leading indicators also report also at 10:00 a.m.
The Kansas City Fed's manufacturing index wraps up the week for economic data at 11:00 a.m. on Friday.
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