Jeremy Glaser: Retail earnings will be in focus this week. Home Depot has been delivering what analyst Jaime Katz described as top-notch results recently, but the shares look a bit rich today.
Macy's, which will report on Wednesday, saw its performance stabilize last quarter as it looks to fight the secular headwinds facing traditional department stores. Shares look fairly valued.
Nordstrom had been exploring a sale back to its founding family, but those discussions broke up in March. Analyst John Brick still thinks the firm is one of the best department store operators and sees shares as modestly undervalued.
Cisco posted strong results last quarter and announced an aggressive plan to return cash to shareholders. The 2-star rated firm will report this week.
Retail sales, housing starts, and industrial production will be the highlights among economic data releases.
Stay tuned for our take on these stories.