The Coming Week: An Eye on Prices

Besides the CPI figures on Friday, industrial production and capacity utilization of the manufacturing space will be released, with economists forecasting a 0.5% rise in production and a capacity utilization rate of 76.7%. March business inventories will be released as well, with the consensus calling for an increase of 0.4% from the prior month's 0.7% rise.

In addition, the University of Michigan's preliminary reading of May consumer sentiment is expected at 9:45 a.m. EDT on Friday; estimates are calling for a reading of 96.5, which would be up from April's reading of 94.2.

Aside from economic data, a slew of retail sector first-quarter earnings will be released, including reports from discount competitors Wal-Mart(WMT Quote) and Target(TGT Quote). Meanwhile, tech bellwether Cisco(CSCO Quote) will report earnings Tuesday.

Analysts are expecting Wal-Mart to earn 49 cents a share, up from 42 cents a share a year earlier. At Target, the consensus is for 47 cents a share, compared to 39 cents a share in the year earlier. Both companies report Thursday.

Other retail earnings reports next week will be from May Department Stores(MAY Quote), Federated Department Stores(FD Quote), Kohl's(KSS Quote) and Tiffany(TIF Quote).