ConAgra, Carnival: Tomorrow's Headliners

NEW YORK (TheStreet) -- Earnings from ConAgra (CAG Quote) and Carnival (CCL Quote) will headline Tuesday's session as the Federal Reserve begins a two-day meeting on interest rates.

The Federal Open Market Committee, the central bank's policy-making arm, will convene Tuesday morning for a two-day meeting on monetary policy. Market participants aren't expecting any surprises out of the Fed, which should keep the target range for the fed funds rate at zero to 0.25%.

The FOMC's statement will not be released until 2:15 p.m. EDT Wednesday, leaving investors to focus on a limited amount of corporate earnings and economic releases.

ConAgra and Carnival will both post quarterly results before the start of trading Tuesday. Analysts expect ConAgra to post a profit of 34 cents a share on revenue of $3.09 billion, according to a poll by Thomson Reuters. Carnival should notch a profit of $1.18 a share on revenue of $4.05 billion, according to Thomson Reuters.

CarMax (KMX Quote) and FactSet (FDS Quote) are also scheduled to report quarterly earnings before the start of trading Tuesday.

The economic docket is thin, with the Federal Housing Finance Agency scheduled to release its July home price index, 10 a.m. EDT, which economists expect will rise by 0.5% after a 0.5% climb in June.

Investors should also be on the lookout Tuesday for headlines from the Senate Finance Committee as the group begins the debate of a health care bill submitted by Sen. Max Baucus (D., Mont.).

-- Written by Robert Holmes in New York.