Target and Lowe's Earnings Reports Highlight Retail Struggles

Both companies face declining sales as economic pressures impact consumer spending; new home sales data to be released Friday.

Lowe's is expected to report a drop in earnings to $3.96 per share on $23.9 billion in sales for the second quarter.
Target's revenue has fallen for four consecutive quarters, with analysts predicting $2.19 per share on $25.2 billion in sales.
The Census Bureau's upcoming report on July new home sales will provide further insight into the housing market's performance.
High mortgage rates have significantly slowed the housing market, affecting home renovation spending.
Interest rates have recently eased but remain around 7%, continuing to deter potential homebuyers.