On Tuesday, retail sales for July are due and economists believe the numbers will probably fall slightly from a month ago due mostly to seasonal causes.

Inflation will be eyed Tuesday and Wednesday with the release, respectively, of the producer-price index and the consumer-price index, neither of which is expected to reveal dangerously high inflation rates for consumer goods.

On Friday, a look at consumer sentiment is due with the release of the Reuters/University of Michigan preliminary consumer-sentiment index. The index appears to have leveled off after falling in the spring when labor markets began showing signs of weakness again.

Factory reports from two key regions - New York on Wednesday and Philadelphia on Thursday - are due. The numbers have been bad in recent months and that trend isn't expected to turn around this week.