By Wallace Witkowski, MarketWatch

Wal-Mart, Home Depot, Target report results

As some of the biggest U.S. retailers report earnings this week, investors will be comparing their results against recent lackluster retail sales figures during a light week of economic data ahead of the Memorial Day holiday weekend.

Stocks finished the week higher (http://www.marketwatch.com/story/dow-looks-set-for-push-into-record-territory-2015-05-15) with the S&P 500 Index (SPX) reaching a record high of 2,122.73 on Friday. Overturning a string of slight losses earlier in the week, the index finished up 0.3%. The Dow Jones Industrial Average (DJI) finished the week up 0.5%, and the Nasdaq Composite Index (RIXF) advanced 0.9%.

This week the last two components of the Dow 30 report quarterly earnings on Tuesday: Wal-Mart Stores Inc.(WMT) and Home Depot Inc.(HD)

Read: What to look for in Wal-Mart earnings (http://www.marketwatch.com/story/what-to-look-for-in-wal-mart-earnings-2015-05-15).

"Retailer numbers are going to be important," said Paul Nolte, portfolio manager at Kingsview Asset Management. "Nationally they weren't great so a lot of people are going to try to reconcile that with the companies reporting."

While consumer spending in April won't be reflected in earnings reports this week, growth in retail sales has been steadily dropping since the beginning of the year (http://www.marketwatch.com/story/retail-sales-flat-in-april-as-gas-savings-continue-to-be-pocketed-2015-05-13).

One of the management concerns most often cited this earnings season is that falling oil prices have done little to boost consumer spending, according to a recent Goldman Sachs note.

Of the 24 S&P 500 companies reporting earnings this week, half of them are retailers, including Target Corp.(TGT), Lowe's Cos.(LOW), Gap Inc.(GPS), and Best Buy Co.(BBY)

The week will also see the release of minutes from April's Federal Open Market Committee meeting, along with housing data and April's Consumer Price Index.

Notable earnings reports this week

Report date     Company/Ticker (FactSet EPS / revenue estimate) 
Mon., May 18    Urban Outfitters Inc. US:URBN  (30 cents / $757.6 million) Agilent Technologies Inc. US:A  (39 cents / $989.7 million) 
Tues., May 19   Wal-Mart ($1.04 / $116.21 billion)Home Depot ($1.15 / $20.81 billion)TJX Cos. US:TJX  (66 cents / $6.8 billion) 
Weds., May 20   Target ($1.03 / $17.08 billion)Staples Inc. US:SPLS  (17 cents / $5.47 billion)Lowe's Cos. (74 cents / $14.25 billion)Salesforce.com Inc. US:CRM  (14 cents / $1.5 billion) 
Thurs., May 21  Gap (55 cents / $3.66 billion)Best Buy (29 cents / $8.47 billion)Dollar Tree Inc. US:DLTR  (75 cents / $2.2 billion)Ross Stores Inc. US:ROST  ($1.28 / $2.89 billion)Intuit Inc. US:INTU  ($2.73 / $2.14 billion)Hewlett-Packard Co. US:HPQ  (86 cents / $25.79 billion)L Brands Inc. US:LB  (60 cents / $2.51 billion) 
Fri., May 22    Campbell Soup Co. US:CPB  (52 cents / $1.93 billion)Deere & Co. US:DE  ($1.56 / $7.54 billion) 
 

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