On the docket

Monday: There are no market-moving economic reports scheduled for Monday.

Tuesday: The Labor Department releases the initial reading on second-quarter productivity in the morning. Business productivity is expected to have gained 4.9% after rising 1.6% in the previous month, according to a Briefing.com survey of economists. Unit labor costs are expected to have fallen 1.9% in the quarter after rising 3% in the first quarter.

The June wholesale inventories report from the Commerce Department, due in the morning, is expected to show a decline for the 10th month in a row, dropping 0.9% after falling 0.8% in May.

The Fed meeting gets underway in the morning, concluding Tuesday.

After the close, Applied Materials (AMAT, Fortune 500) releases results. The chipmaker is expected to report a loss of 8 cents per share, according to Thomson Reuters. Applied Materials earned 15 cents a year ago.

Wednesday: Due in the morning, the June trade gap, from the Commerce Department, is expected to have widened to $28.5 billion from $26 billion in May, a 10-year low.

The weekly oil inventories report from the Energy Information Administration is due in the morning and the July Treasury budget is due in the afternoon.

The Fed decision is due at around 2:15 p.m. ET.

Thursday: July retail sales, released by the Commerce Department, are expected to show modest growth. Sales likely rose 0.3% after rising 0.6% in June. Sales excluding volatile autos are expected to have written 0.1% after rising 0.3% in June.

The weekly jobless claims report from the Labor Department is also due in the morning, along with readings on July import and export prices and June business inventories.

Wal-Mart Stores (WMT, Fortune 500) releases its quarterly results before the start of trade. The Dow component is expected to have earned 86 cents per share, just as it did a year ago.

Friday: The Consumer Price Index (CPI) for July is expected to come in unchanged, as inflationary pressure remains benign. CPI rose 0.7% in June. The so-called Core CPI, which strips out volatile food and energy prices, is expected to have risen 0.2% after rising 0.2% in June. The Labor Department releases the report.

After the start of trading, the University of Michigan releases its initial reading on consumer sentiment in August. The index is expected to have risen to 68.5 from 66 in late July.

Readings on July industrial production and capacity utilization are also due.