Home Depot, Target and Walmart report earnings this week, which should provide some more clues as to how retailers and their shoppers are coping with rising prices and a slowing economy.
Markets remain prey to worries about recession, high inflation and the U.S. government inching toward what could be a catastrophic default on its debt. The hope on Wall Street is that easing inflation may convince the Fed to hold off on raising rates again at its next meeting in June. That would offer some breathing room to both the economy, which has slowed under the weight of higher rates, and to financial markets, where prices began falling long ago.
Elsewhere, at midday in Europe, Germany's DAX inched up 0.1%, the CAC 40 in Paris gained 0.2% and Britain's FTSE 100 climbed 0.4%.
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