Week Ahead on Wall Street: FOMC Minutes, Big Box Retailer Earnings

Corporate earnings are exiting the market scene and macroeconomics will be at the forefront this week for investors.

Retail sales numbers and minutes from the Federal Reserve’s FOMC meeting will take center stage. Additional data will include U.S. consumer prices, U.S. industrial production and an index encompassing key U.S. macroeconomic numbers.

A Closer Look: Home Depot Earnings Sneak Peek>>

And next week will also include Facebook’s impending IPO. For now, it is scheduled for Friday, May 18. Will this change?

News from Europe will also keep market watchers on their toes. On Tuesday, the euro zone will announce its recent gross domestic product numbers and France’s new president Francois Hollande will take over the reins. German Chancellor Angela Merkel will meet with him soon afterwards.

Also coming from Germany is Sunday’s election from its largest state, North Rhine-Westphalia. Voters are expected to usher in center-left politicians who will provide resistance against austerity.

Let’s take a look at this week.

Economic Numbers

Tuesday: April consumer prices, April retail sales and New York Fed Empire State survey.

Wednesday: April housing starts, April building permits and April Industrial production.

Thursday: Weekly jobless claims, May Philly Fed manufacturing survey and April leading index.

Fed Speak

Wednesday: FOMC Minutes.

Earnings Reports

Monday: Groupon (NASDAQ:GRPN).

Tuesday: J.C. Penney (NYSE:JCP), Home Depot (NYSE:HD) and Saks (NYSE:SKS).

Wednesday: Target (NYSE:TGT), Staples (NASDAQ:SPLS) and Abercrombie & Fitch (NYSE:ANF).

Thursday: Wal-Mart (NYSE:WMT), Sears (NASDAQ:SHLD) and Salesforce (NYSE:CRM).