Coronavirus update, earnings, consumer confidence: 3 things to watch for in the markets on Tuesday

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Here are the most important things to know about Tuesday before you hit the door.

1. Coronavirus updates

After a 1,000 point drop to the Dow Jones Industrial Average on Monday, investors will be looking for updates on the coronavirus on Tuesday. Stocks were dented on news about the spike in cases outside of China, in places like South Korea and Italy. The World Health organization said new cases in Iran and Italy are "deeply concerning" and Goldman Sachs slashed its first quarter GDP forecast from the impact of the virus.

Investors will be hanging on new case numbers from Italy, Iran and South Korea and looking for a continued slowdown in cases in China.

2. Home Depot, Salesforce set to report

We'll get earnings from Home Depot before the bell on Tuesday. Analysts polled by FactSet are expecting the home improvement company to report earnings per share of $2.11 on revenue of $25.762 billion. This compared to the $2.25 per share on sales of $26.491 billion Home Depot reported a year prior.

Real estate-related stocks have outperformed this year benefiting from lower mortgage rates while the broader market digests fears about the coronavirus. Shares of Home Depot are up nearly 10% this year while the S&P 500 is about flat in 2020.

Cloud company Salesforce also reports quarterly earnings after the bell on Tuesday. Analysts polled by FactSet estimate the Marc Benioff-led company will report earnings of 56 cents per share on revenue of $4.755 billion. Salesforce earned 70 cents per share on sales of $3.603 billion a year prior.

Shares of Salesforce are up nearly 13% this year.

We'll also get earnings from spaceflight company Virgin Galactic, and a stock that has garnered much attention from its 190% rally in 2020.

3. Consumer confidence

We'll get a read on consumer confidence on Tuesday with the Conference Board's consumer confidence index set to release at 10:00 a.m. Economists polled by Dow Jones are expecting a read of 132.3 in February, up from January's read of 131.6.

Consumer confidence in the U.S. grew more than expected in January as the outlook around the labor market improved. Investors will be watching if any confidence levels are dented from the threat of the coronavirus.

Major events (all times ET):

8:30 a.m. Philadelphia Fed non-manufacturing

9:00 a.m. S&P/Case-Shiller HPI

9:45 a.m. Dallas Fed President Robert Kaplan speaks

10:00 a.m. Consumer confidence

10:00 a.m. Richmond Fed survey

10:30 a.m. Dallas Fed services

3:15 p.m. Federal Reserve Vice Chairman Richard Clarida speaks

Major earnings:

Home Depot (before the bell)

Macy's (before the bell)

Salesforce (after the bell)

Virgin Galactic (after the bell)

SmileDirectClub (after the bell)

RealReal (after the bell)