The Federal Reserve is expected to announce a quarter-point interest rate hike on Wednesday afternoon, followed by a press conference with Chairman Kevin Warsh at 2:30 p.m. Retail sales data for August will be released at 8:30 a.m., with the Dow Jones consensus estimate projecting a 0.8% increase, after an unexpected 0.6% decline the previous month. Homebuilder Lennar is scheduled to report earnings after market close, with its stock down 40% over the past year. Several defense and airline companies, including Northrop Grumman, Lockheed Martin, United Airlines and Southwest, will present their strategies at Morgan Stanley’s 14th Annual Laguna Conference.
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