What to Watch Wednesday: Lowes, Target Quarterly Results, FOMC Minutes

For Wednesday, August 19, TheStreet awaits quarterly results from Lowe's (LOW), Target (TGT), Staples (SPLS), American Eagle Outfitters (AEO) and L Brands (LB). Lowe's, set to release its second quarter earnings before the bell on Wednesday, is expected to report profits of $0.74 cents a share on revenue of nearly $14 billion. TheStreet's Jim Cramer says he's not sure Lowes can keep up with Home Depot's progress. Another big retailer, Target (TGT), reports its earnings before the bell as well. Also due to report results before the opening bell are Staples (SPLS) and American Eagle Outfitters (AEO). L Brands (LB) will release earnings after the markets close. On the economic front, at 8:30a.m. Eastern, the Consumer Price Index report will be released. The number will be closely watched to see if it moves toward the Federal Reserve's 2-percent inflation rate target, which could signal a raise in interest rates. And, what is likely the most highly anticipated report of the week from the Federal Reserve, the Federal Open Market Committee will release its minutes at 2:00p.m. Eastern. TheStreet's Valerie Young reports from New York.