NEW YORK--On the earnings front, the week's top billing will be the world's largest retailer, Wal-Mart, which will report early on Tuesday
The results will come less than a week after data showed U.S. retail sales were flat in April, the latest sign the economy was struggling to rebound strongly after a very soft first quarter.
Wal-Mart, however, is seen beating first-quarter expectations on the top and bottom lines, according to Thomson Reuters StarMine data.
Housing data in the form of starts and permits is due Tuesday, while home resales are out on Thursday.
"If we have an 8 percent rise in starts to a million homes, that would be a good sign that the spring bounce is back," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds
Management in Menomonee Falls, Wisconsin.
"If we fall short of a million, that doesn't augur well for the economic recovery."
Housing starts are expected to have risen in April to a seasonally adjusted annual pace of 1.02 million units from 926,000 in March.
Home Depot will report results on Tuesday, followed by Lowe's on Wednesday.
REUTERS
