Here are the most important things to know about Wednesday before you hit the door.
1. ADP jobs
We'll get a first reading on the strength of the labor market on Wednesday with private payroll data from ADP for December coming out at 8:15 a.m. Economists surveyed by Dow Jones are estimating 150,000 jobs added in December, up from the disappointing 67,000 jobs created in November.
November's ADP report was a big miss, since economists were estimating 150,000 new jobs. Wednesday's ADP job count comes ahead of Friday's more closely watched Labor Department nonfarm payrolls report.
2. Consumer earnings
Consumer companies Walgreens, Constellation Brands and Bed Bath & Beyond all report quarterly earnings on Wednesday.
UBS expects Walgreens to report earnings of $1.41, below last year's $1.46 per share. The firm said the bar for Walgreen's earnings "looks achievable" because of a big flu season and strong same store sales trends for drug retailers. That said, UBS expects U.S. retail to slow in 2020 and has a sell rating on Walgreens.
Bank of America expects wine and beer importer Constellation Brands to report earnings of $1.82 per share, which was lowered from $1.92 per share after a $71 million loss related to pot company, Canopy growth. Constellation Brands earned $2.37 in the same quarter last year. Bank of America said slowing beer sales growth and the company's plan to grow its wine business remain an overhang for Constellation shares.
Baird expects Bed Bath & Beyond to report earnings of 2 cents per share, the same as the third quarter last year. The firm's same store sales estimate is a drop of 6%. "While BBBY had taken steps to stem the decline in sales, an unfavorable calendar shift could limit the magnitude of sequential comp improvement," said Baird's senior research analyst Peter Benedict in a note to clients on Monday.
3. Housing market update
Earnings from home building company Lennar on Wednesday will give investors a gauge on the health of the housing market. Typically, a robust job market and lower interest rates boost home building in the U.S.
Wedbush expects Lennar to report earnings per share of $1.89, compared to last year's $2.42 per share. The firm also predicts order growth of 16%, thanks to Lennar's shift to lower-priced homes. Lennar is "undervalued especially in light of the company's shift to more affordable product," said Wedbush analyst Jay McCanless.
Shares of Lennar are up nearly 35% in the last 12 months.
Major events (all times ET):
8:15 a.m. ADP employment
3:00 p.m. Consumer credit
Major earnings:
Walgreens Boots Alliance (before the bell)
Constellation Brands (before the bell)
Lennar (before the bell)
Bed Bath & Beyond (after the bell)
— with reporting from CNBC's Michael Bloom.