Wall Street Eyes Earnings Data This Week

03/28/2008 02:45 am ET | Updated May 25, 2011

This week's flood of readings on inflation, retail sales and earnings is just what a data-hungry Wall Street has been anxious for.

But it could be a case of the old saying, be careful what you ask for, because you might actually get it. Evidence that consumers and companies are cash-strapped could mean the economy is on a fast track toward recession -- or already in the midst of one.

"I think we're going to look back on fourth-quarter earnings and instead of thinking the recession is coming, if there is one, it already started," said JPMorgan equities analyst Thomas J. Lee.