If this week is anything like last week's, then economic data and earnings reports won't be the main attraction for investors.

The question is whether the bold move by Ben Bernanke and the Federal Reserve on Friday-lowering the discount rate-will be enough to restore confidence in the market. The surprise cut drove a strong rally on Friday, with the Dow Jones industrial average surging 1.8 percent, to 13,079.08. Still, the Dow ended the week down 1.2 percent and the jitters in the market will take some time to subside.

Although earnings season has all but wrapped up, a few retailers will post quarterly results during the coming week.

On the heels of a disappointing performance out of Home Depot, Lowe's is expected to post similarly weak second-quarter results on Monday. As the housing market continues its slump, home-improvement retailers have  been hit hard. For this quarter, analysts expect Lowe's to post earnings of 61 cents a share on revenue of $14.2 billion.

Target is expected to fare better in terms of earnings, but is also coping with sluggish sales. High prices at the gasoline pump continue to depress retail sales, especially for those in the bargain sector. When the retailer announces results on Tuesday, analysts expect earnings of 80 cents a share and revenue $14.8 billion.

Abercrombie & Fitch is at least one example of a retailer managing to not only maintain brisk sales this year, but to improve them. The company expects net income of 87 to 88 cents per share, including 3 cents per share from the favorable settlement of a tax audit. That not only reflects stronger performance than at the same time last year, but also represents a higher first-half profit forecast than was put forward earlier this year.

Toll Brothers, the nation's largest luxury-home builder, issued preliminary results on August 8, and will release its official third quarter numbers this Wednesday. Based on Toll Brothers' previous announcement, third-quarter home building revenues were approximately $1.21 billion, and performance declined overall from the third quarter of 2006.

The economic calendar will be quiet this week, until new-home sales figure are announced on Friday. Sales of new homes are expected to edge down only slightly from 834,000 units in June to 830,000 in July. That's a further indication that the housing market slump, while not deepening, is not yet headed toward recovery.

Related Links:

• MarketWatch: Will Fed's cut work to restore calm, save economy?
• TheStreet.com: Coming Week: Still Shaky