(Bloomberg) -- Well, hello again from New York.

Whether you’re feeling the sand between your toes or wondering if it’s time to have a peek at that dreaded inbox of work e-mails, here’s a little something to get you primed for the new week.

The big stat: OK, it’s not a stat but the minutes from the Fed’s meeting last month—the one when Jerome Powell and his crew sanctioned a hefty 75 basis-point hike in borrowing costs. Wall Street’s finest will be parsing the words for clues about how high and high fast interest rates are headed.

The big earnings: Get ready for the retail parade, and it won’t be pretty. Walmart and Target report earnings just a few weeks after stunning investors by cutting their profit outlooks. Also on deck: Home Depot and Lowe’s. And Tencent, the Chinese e-commerce giant that lost a whopping $560 billion in market value over 18 months, is set to report its first sales decline since 2008.

The big market thought: Every investing trend that defined the wild first half is staging a messy reversal. So moving to the sidelines wouldn’t be the worst idea. As one investment strategist at All Star Chart puts it, “Letting the volatility play out is often an overlooked and under-appreciated option.”

The big tech idea: Mark Gurman explains in Power On how Apple is set to expand ads to new areas of your iPhone and iPad in search of its next big revenue driver.

The big trip: Seeing as the dollar is so mighty and the euro is so feeble, you’d be forgiven for thinking that it’s worth going pretty much anywhere in Europe. But things aren’t quite so cost effective once you start to factor in inflation. Actually, the best value for your vacay dollar is in Turkey, where the lira has taken much more of a hammering. The worst? That would be Iceland.

ICYM our Big Take: Rental costs in the US are soaring at the fastest pace in more than three decades, surpassing a median of $2,000 a month for the first time and pushing rents above pre-pandemic levels in most major cities. Increases are particularly steep in metropolitan areas that saw large influxes of new residents during the pandemic, but the rental market is sparing almost nowhere and no one. 

And here’s an interesting podcast to take you into the new trading week: The chief investment officer of Morgan Stanley Wealth Management joins “What Goes Up” and has a warning for anyone chasing the latest rally in stocks.

Have a good week. See you on the other side.

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