Walmart earnings, housing data, manufacturing read: 3 things to watch for Tuesday


Here's what investors need to know about Tuesday before hitting the door. (The market will be closed Monday in observance of the Washington's Birthday holiday.)

Walmart earnings

Walmart is set to report fourth quarter earnings on Tuesday before the market opens. The Street is expecting the big-box retailer to earn $1.44 per share on $142.54 billion in revenue, according to estimates from FactSet. This represents 2.7% year-over-year revenue growth, and would be 11.4% higher than the $127.99 billion Walmart earned in the prior quarter.

Investors will be watching the retailer's report closely, since it will include sales from the all-important holiday season.

In January competitor Target said its holiday sales fell short of estimates following softness in the company's toys and electronics divisions.

Shares of Walmart slid alongside the broader S&P Retail ETF on Friday after the U.S. Commerce Department said that clothing store sales in January fell the most since 2009.

Housing sentiment

At 10 am, we'll get a read on the how the nation's single-family homebuilders are feeling about the market when the National Association of Home Builders/ Wells Fargo Housing Market Index monthly report is published. Consensus estimates are for 75. Anything above 50 is considered positive.

January's reading came in at 75. This was 1 point below December's reading of 76, which was a 20-year high.

Manufacturing read

The New York Fed will issue its Empire State Manufacturing Index at 8:30 am. This is a closely followed gauge of output from the New York area, as well as import and export prices and business inventories.

Analysts are calling for a reading of 4.5. Last month's reading came in at 4.8.

Major events (all times Eastern):

8:30 a.m. Empire State Manufacturing

10:00 a.m. NAHB Survey

2:00 p.m. Fed's Kashkari

Major earnings:

Walmart (before the bell)

Medtronic (before the bell)

Advance Auto Parts (before the bell)

Diamondback Energy (after the bell)