The markets took the news that two of President Trump’s former staffers had been found guilty of several crimes in stride Wednesday. Though the news has been fodder for the pundits, thus far the markets have focused more on a great earnings quarter. Indices are daily flirting with new highs. News that a NAFTA deal with Mexico may be imminent, and the start of trade negotiations with China, are not hurting this juggernaut of a market either.

Thursday the market will see earnings from Alibaba (BABA) before the open, and the heavy retail earnings week continues after the close when Gap (GPS) reports. Alibaba is expected to give a good report on its core business, but those earnings are being overshadowed by spending to expand in bricks-and-mortar retail. Given the blowout earnings from companies like Target (TGT) and Walmart (WMT) investors may be in a forgiving mood to see the Chinese company putting more effort into physical stores. Inventory issues hampered Gap in the first quarter, but analysts expect those issues to be resolved this quarter. After great numbers from other retailers, Gap is expected to deliver an upbeat report. Analysts will be looking for continued strength in the Old Navy brand, as store openings have accelerated due to strong demand.

Thursday’s economic calendar is heavily loaded with the FHFA House Price Index and new home sales data released in the morning. Prices were down and supply was up in June, which analysts believe will bode well for the July report, after buyers have been reporting a dearth of available inventory. Both numbers are expected to rise slightly. Also released on Thursday are weekly jobless claims and the PMI Flash Index. The PMI number has been running up against capacity constraints, and analysts will be listening for anecdotal information from the flash number which is released 10 days before the final report. Thursday also marks the beginning of the Jackson Hole Annual Economic Symposium which often brings market moving commentary from its participants. Durable goods orders will be released Friday morning. The street is expecting a pullback in orders overall, but this is due to a dip in aircraft numbers. Ex-transportation analysts are expecting a .5% increase.

As it is a late Friday in August, only six companies are reporting earnings Friday morning. Among the group are Foot Locker (FL) and Hibbett Sports (HIBB). Analysts are looking for a continuation of improving numbers at the retail shoe chain. Foot Locker has been benefiting from an improved product offering mix from big names like Nike (NKE). FL is not expected to slip as its comeback continues. Although same-store sales and earnings dipped slightly at Hibbett last quarter, the small-town sports store is expected to recover this quarter. Analysts will be looking for increased traffic, and listening for commentary for how the economic recovery is fairing in small town America.

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