Week Ahead: Fed Minutes May Shine Light on Rates

Jeremy Glaser: For Morningstar, I’m Jeremy Glaser and welcome to the week ahead, our quick take on what investors should have on their radar screens for the week starting May 16. 

The minutes of the Fed’s May meeting are due on Wednesday, and will provide a glimpse into the central bank's rationale behind not raising rates but leaving their options open for June. Don't expect anything groundbreaking, but look out for discussions of how international developments are playing into the committee's thought process and how they are viewing inflation. 

Speaking of inflation, Monday's Consumer Price Index will be an important data point for the Fed's future meetings. Signs that inflation is picking up may force the bank to act sooner than they would like. 

Housing and industrial production will round out the economic releases in the week.

Although earnings seasons is mostly behind us, we will hear from some tech and retail names. 

After some disappointing results from the likes of Macy's, we'll see if giant retailers Wal-Mart and Target were able to produce better results. 

One company that has been producing better results recently is Marshalls and TJ Maxx operator TJX. And we'll see if that continued when they report on Tuesday.

Home Depot and Lowes have also been on the positive side, thanks to some housing tailwinds, and they will also report this week. 

In technology, Cisco and Salesforce will also provide an update. 

Stay tuned to Morningstar for our take on all of these stories.