This week's economic reports that matter

Start with the Fed Chair Powell, who will participate in a question-and-answer session Monday with the Economic Club of Washington.

Next up is Tuesday's retail sales report, with analysts expecting a small decline that will feed into the softness worry. But a note: Lower gasoline prices may affect the results.

Wednesday is the June report on building permits and housing starts. Both are expected to show small declines because higher mortgage rates have discouraged home buyers.

Thursday serves up leading economic indicators. The consensus is for a 0.3% decline.