Investors will get a key statement from the Federal Reserve next week that could offer a more detailed description of the economy, as well as any change in Fed policy toward buying Treasurys.

Senate Banking Committee Chairman Christopher Dodd (D - Conn.) is expected to introduce his sweeping plan to overhaul financial regulations Monday without any Republican support.

Meanwhile, retailers including Guess Inc. (GES), DSW Inc. (DSW) and Ross Stores Inc. (ROST) will report quarterly results next week.

The rate-setting Federal Open Markets Committee will hold a meeting Tuesday to discuss monetary-policy strategy. The committee has kept its funds rate target within a record low range of 0% to 0.25% since December 2008, but some FOMC members have argued recently that the central bank should tone down its language which in the past has indicated that the rate will stay very low for an "extended period."

Guess, which has been one of the more resilient apparel companies on the strength of its international sales, is expected to report fiscal fourth-quarter results Wednesday, while New York & Co. (NWY) is slated for Thursday. The women's clothing retailer in November said it expected to post a profit in the quarter, helped by significantly improved margins and better inventory management, as well as customers' response to merchandise.

Other retailers set to report include discount shoe retailer DSW and teen-apparel retailer Rue21 Inc. (RUE) on Tuesday, and off-price retailer Ross Stores on Thursday.

The Organization of Petroleum Exporting Countries is scheduled to meet Wednesday in Vienna, where it is likely to keep crude output quotas unchanged as oil prices remain at satisfactory levels, according to a senior Gulf official earlier this month. Crude futures hit a two-month high Friday after an unexpected improvement in U.S. retail sales signaled that the economic recovery continues to gain momentum.

Under pressure from the European Union and financial markets, Greece must show by Tuesday that it is on track to trim the budget deficit to 8.7% of gross domestic product this year, from an estimated 12.7% last year. Recent polls show that the Greek public is divided over the austerity plan, as unions have protested wage and benefit cuts being put in place to trim the nation's swollen budget deficit.

The U.S. government will release housing-starts and building-permits data for February on Tuesday, with both expected to post modest declines from January, when housing starts exceeded expectations and building permits met analysts' estimates.