It's a big week on Wall Street as investors prepare for the release of several key economic data points. Wednesday will be especially important, as the July Consumer Price Index (CPI) will provide insight into the state of the consumer. Economists expect a 0.2% month-over-month increase and a 3% year-over-year increase in July's print. July retail sales will also paint a picture of the consumer, as economists anticipate a 0.4% month-over-month increase. Meanwhile, staple retail brands Home Depot (HD) and Walmart (WMT) will report earnings this week.

These prints are especially crucial for the data-dependent Federal Reserve as it weights the timing and size of its first interest rate cut.

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This post was written by Melanie Riehl