The New York Stock Exchange was indecisive on Monday: the Dow Jones fell by less than 0.4% to 3,9357, while the S&P500 was flat at 5,344 and the Nasdaq Composite advanced by 0.2% to 16,781.

Signs of nervousness have been multiplying for over a month, with the Dow last week breaking a run of four consecutive weeks of gains and the Nasdaq dropping more than 10% since its recent high on July 10.

After an idyllic first half of the year for the stock markets, managers and analysts are now turning their anxious gazes towards a second half that could hold more turbulence in store.

The main question on the minds of market participants will be whether the US economy is heading for a soft landing or a possible slide back into recession. The week's data will therefore be closely scrutinized.

The trend could be particularly influenced by US retail sales for July (to be published on Thursday), with the consensus forecasting an increase of 0.3% after stability the previous month.

The various inflation figures (producer prices on Tuesday, consumer prices on Wednesday and import prices on Thursday) should definitively confirm the scenario of a rate cut as early as next month.

On the earnings front, consumer spending will also be in the spotlight this week, with Home Depot's quarterly results on Tuesday and Walmart's on Thursday. The performance of Cisco, the network equipment giant, will also be closely watched.

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