Retail giants Walmart, Target, Home Depot and Lowe’s report their second quarter earnings this week amid fresh uncertainty about the health of the American consumer. U.S. retail sales unexpectedly declined in July, posting their steepest drop in over a year, according to Commerce Department data released Friday. This weakness, combined with disappointing jobs figures, has reduced the likelihood of further Federal Reserve rate hikes. U.S. stocks reached record highs last week, with futures suggesting a mixed open, the Nasdaq up 0.5% while the Dow slipped 0.2%.
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