Tomorrow's Headliners: Best Buy

The focus of Tuesday's session will fall on earnings and economic data, as quarterly results from Best Buy (BBY Quote) and the latest read on housing starts will be released.

The economic docket is packed. At 8:30 a.m. EDT, housing starts and building permits are expected to have risen to 485,000 and 508,000, respectively, in May from 458,000 and 498,000 in the prior month, showing a mild improvement in the housing sector.

At the same time, the Labor Department will post the producer price index for May, which is expected to show inflation ticked higher at the producer level. The PPI is expected to have risen 0.6% in May, while the core number, which excludes food and energy, should increase 0.1%.

Later in the morning, at 9:15 a.m. EDT, the Federal Reserve will post industrial production and capacity utilization data for May, with both expected to decline slightly from April's levels. In related central bank news, Fed governor Kevin Warsh will speak on economic policy in New York.

On the earnings front, Best Buy is scheduled to report fiscal first-quarter earnings before the market opens. Analysts expect the electronics retail giant to report a profit of 34 cents a share on sales of $10.1 billion, according to Thomson Reuters. That would compare to a profit of 43 cents a share on sales of about $9 billion in the year-ago quarter and earnings of $1.61 a share on revenue of $14.72 billion in the previous quarter.