FOMC Minutes to be Released on 20th, PMI and Retail Earnings to be Announced

The minutes from the Federal Open Market Committee (FOMC) meeting in July and the Purchasing Managers' Index (PMI) for August, along with the earnings reports from major retail companies, will be released this week. The Federal Reserve will publish the minutes from the FOMC meeting held on July 28-29 at 2 PM ET on the 19th, which is 3 AM KST on the 20th. These minutes will serve as a reference for the committee's assessments of inflation, employment, and consumer trends ahead of the September meeting. In the July meeting, the Fed maintained the target range for the federal funds rate at 3.50% to 3.75%. The minutes from the June FOMC indicated that economic activity was expanding steadily and labor market conditions were stable, although inflation exceeded the target of 2%, and some participants mentioned the need for interest rate hikes. S&P Global will release the August U.S. Flash PMI at 9:45 AM ET on the 21st, which is 10:45 PM KST on the same day. The PMI is a leading indicator that surveys economic sentiment, with a reading above 50 indicating economic expansion. Additionally, Target will hold its Q2 2026 earnings conference call on the 19th, and Walmart will announce its Q2 earnings for fiscal year 2027 at 7 AM CT on the 20th. The schedule for this week's announcements is as follows: 3 AM on the 20th - July FOMC minutes, 9 PM on the 20th - Walmart earnings announcement, and 10:45 PM on the 21st - U.S. August Flash PMI.