Wall Street will get its first glimpse of how the U.S. economy performed during the second quarter in the coming week.

And, again, it could show an economy merely limping along.

"I think it's going to come in as more of the dreary same," Dan North, chief economist at Euler Hermes North America, told TheStreet. North targets growth in the second quarter of roughly 2% to 2.5%.

FactSet estimates show second-quarter GDP growth of 2.4% after a reading of 2.1% in the first quarter. The first estimate of economic growth from April to June will be released at 8:30 a.m. ET on Friday, July 28.

The cause of a lethargic economy is the consumers' reluctance to spend even as confidence remains relatively high, explained North.

"The consumer is so frustrating in the sense that the consumer expresses continued confidence and exuberance and yet fails to act on it," he said.

Retail sales in the U.S. fell in two of the three months of the second quarter. Sales declined by 0.1% and 0.2% in May and June, respectively, while rising by 0.3% in April. Meanwhile, consumer confidence showed a surprise increase in June with a measure on current conditions near a 16-year high.

Economists expect confidence to begin to falter, though, as gridlock in Washington eats away at hopes for President Donald Trump's pro-growth agenda. Expectations have taken a hit in recent weeks after the Senate GOP failed to push through a repeal-and-replace healthcare bill it had been championing for more than seven years.

"There's no wonder people aren't spending," added North. "They're hopeful but why are they going to spend when nothing has happened? Especially when you have the House, the Senate, and the presidency and nothing has happened on the agenda yet."

Consumer confidence for July will be released on Tuesday, July 25, at 10 a.m. Economists' estimates compiled by FactSet show that confidence is expected to take a nearly three-point hit to fall to 116.

The Federal Reserve will convene this week with an announcement on monetary policy scheduled for Wednesday, July 26. Economists don't expect the central bank to make a change to interest rates, though investors will comb through the statement to discern when the Fed could begin to unwind its balance sheet. Most Fed watchers anticipate that process to begin at the September meeting.

Also on the economic calendar in the coming week: Flash composite PMI for July and existing home sales for June will be released on Monday, July 24; the S&P Corelogic Case-Shiller home price index for May on Tuesday; new home sales for June on Wednesday; durable goods orders and international trade in goods for June on Thursday, July 27; and the Employment Cost Index for the second quarter, and the final reading on consumer sentiment for July on Friday.

The earnings season speeds on at a relentless pace in the coming week with a large chunk of companies in the S&P 500 set to report on their recent three-month performance. Nearly one-fifth of S&P 500 companies have reported on the second quarter so far this reporting season. Of those, 74.2% have exceeded earnings estimates, while 72.7% have topped revenue forecasts, according to Thomson Reuters data.

Some of the most notable earnings in the coming week include Alphabet Inc. (GOOGL) - Get Report out on Monday; General Motors (GM) - Get Report , McDonald's Corp. (MCD) - Get Report  and DuPont (DD) - Get Report on Tuesday; Boeing (BA) - Get Report , Facebook Inc. (FB) - Get Report , Ford Motor Co. (F) - Get Report  and Whole Foods Market (WFM) on Wednesday; and Amazon.com Inc. (AMZN) - Get Report , Twitter Inc. (TWTR) - Get Report , Starbucks Corp. (SBUX) - Get Report  and Intel Corp. (INTC) - Get Report on Thursday.

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Other consumer and tech earnings of note include Hasbro Inc. (HAS) - Get Report  and VF Corp. (VFC) - Get Report on Monday; Advanced Micro Devices (AMD) - Get Report , Kimberly-Clark (KMB) - Get Report , Chipotle Mexican Grill (CMG) - Get Report , JetBlue Airways (JBLU) - Get Report  and Seagate Tech (STX) - Get Report on Tuesday; Hershey Co. (HSY) - Get Report , Imax Corp. (IMAX) - Get Report , Coca-Cola (KO) - Get Report  and Bloomin' Brands (BLMN) - Get Report on Wednesday; Anheuser-Busch InBev (BUD) - Get Report , Dunkin' Brands (DNKN) - Get Report , Electronic Arts Inc. (EA) - Get Report , Expedia Inc. (EXPE) - Get Report , United Parcel Services (UPS) - Get Report , Western Digital (WDC) - Get Report , Mattel Inc. (MAT) - Get Report , MasterCard Inc. (MA) - Get Report , Southwest Airlines Co.  (LUV) - Get Report  and Fiat Chrysler Automobiles NV  (FCAU) - Get Report on Thursday.

Southwest Airlines and Western Digital are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells LUV or WDC? Learn more now.

Telecom and media companies to release earnings include AT&T Inc. (T) - Get Report on Tuesday; and Charter Communications (CHTR) - Get Report , Verizon Communications (VZ) - Get Report , Sirius XM Holdings (SIRI) - Get Report and Comcast Corp. (CMCSA) - Get Report on Thursday.

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Industrials and oil earnings include Halliburton Co. (HAL) - Get Report  and Stanley Black & Decker Inc. (SWK) - Get Report on Monday; 3M Co. (MMM) - Get Report , AK Steel Holdings (AKS) - Get Report , Caterpillar Inc. (CAT) - Get Report  and United States Steel (X) - Get Report on Tuesday; Barrick Gold (ABX)  and Hess Corp. (HES) - Get Report on Wednesday; ConocoPhillips (COP) - Get Report , Dow Chemical (DOW) - Get Report , Royal Dutch Shell (RDS.A) , Statoil (STO) , Total (TOT) - Get Report  and Vale (VALE) - Get Report on Thursday; and Exxon Mobil Corp. (XOM) - Get Report  and Chevron Corp. (CVX) - Get Report on Friday.

Dow Chemical is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells DOW? Learn more now.

Healthcare earnings include Amgen Inc. (AMGN) - Get Report , Biogen Inc. (BIIB) - Get Report , Express Scripts (ESRX)  and Eli Lilly & Co. (LLY) - Get Report on Tuesday; Anthem Inc. (ANTM) - Get Report , Baxter International (BAX) - Get Report , Gilead Sciences (GILD) - Get Report , Vertex Pharmaceuticals (VRTX) - Get Report  and GlaxoSmithKline (GSK) - Get Report on Wednesday; AstraZeneca PLC (AZN) - Get Report , Bristol-Myers (BMY) - Get Report , Celgene (CELG) - Get Report , Procter & Gamble (PG) - Get Report on Thursday; and AbbVie Inc. (ABBV) - Get Report , Immunogen Inc. (IMGN) - Get Report  and Merck & Co. (MRK) - Get Report on Friday.

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