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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.

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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 Alphabet Inc. Class A Report out on Monday; General Motors (GM) - Get General Motors Company Report , McDonald's Corp. (MCD) - Get McDonald's Corporation Report  and DuPont (DD) - Get DuPont de Nemours, Inc. Report on Tuesday; Boeing (BA) - Get Boeing Company Report , Facebook Inc. (FB) - Get Meta Platforms Inc. Class A Report , Ford Motor Co. (F) - Get Ford Motor Company Report  and Whole Foods Market (WFM) on Wednesday; and Inc. (AMZN) - Get, Inc. Report , Twitter Inc. (TWTR) - Get Twitter, Inc. Report , Starbucks Corp. (SBUX) - Get Starbucks Corporation Report  and Intel Corp. (INTC) - Get Intel Corporation Report on Thursday.

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

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

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

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

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