What to Watch Wednesday: Target Earnings, Fed Minutes

On Wednesday, August 17, Target (TGT) - Get Report releases quarterly earnings, while the Federal Reserve unveils the minutes of its July policy meeting. Analysts expect Target to report earnings of $1.12 a share on sales of $16.18 billion. During the same quarter a year ago, the retailer reported earnings of $1.22 a share with revenue of $17.43 billion. Analysts will be keeping an eye on the company's grocery sales, which represents roughly one-fifth of total revenue. Meanwhile, American Eagle Outfitters (AEO) - Get Report , Cisco Systems (CSCO) - Get Report and Lowe's Companies (LOW) - Get Report also report earnings on Wednesday. On the economic calendar, the EIA Petroleum Status Report is released at 10:30am Eastern; St. Louis Federal Reserve Bank President James Bullard speaks at 1pm; and the minutes of the Federal Reserve's July meeting are released at 2pm. TheStreet's Scott Gamm reports from Wall Street.