Target also reiterated fiscal-year guidance. It continues to expect a low-single digit decline in sales, while adjusted earnings per share will range from $7 to $9. Consensus estimates call for a roughly 1.5% drop in sales and adjusted earnings of $7.28 a share.

When Nvidia, the chip producer, reports earnings next week, investors expect the S&P 500 to have a bigger reaction than when the Fed chair delivers a big speech on Friday.