Nike, Walgreen: Tomorrow's Headliners

NEW YORK (TheStreet) -- Nike (NKE) and Walgreen (WAG) will be among the stocks to watch Tuesday as both companies are scheduled to release quarterly earnings results.

Before the start of trading, Walgreen is expected to say it earned 39 cents a share on $15.68 billion in revenue during the recent quarter. While the company has been affected by the pullback in consumer spending, it has seen a boost in prescription sales.

Nike will report results after the end of trading Tuesday, with analysts expecting a profit of 97 cents a share on revenue of $4.89 billion, according to Thomson Reuters. Shares are up more than 15% in 2009.

Darden Restaurants (DRI) and Jabil Circuit (JBL) will also join Nike in reporting earnings after Tuesday's closing bell.

Turning to the economic docket, the S&P/Case-Shiller Housing Price index, due for release at 9 a.m. EDT, is expected to show a 14.2% decline for July after a 15.4% drop in June. At the same time, the Conference Board will release the September reading of its consumer confidence index, which should increase to 57 from 54.1 in August.

Traders will also be monitoring speeches from two Federal Reserve members. Dallas Fed President Richard Fisher and Philadelphia Fed President Charles Plosser will offer remarks at separate appearances. Their comments will be closely watched for clues on the Fed's next move in regards to interest rates.

Last week, Fed Governor Kevin Warsh said the central bank's job is only half over and that the Fed may have to raise rates before the need is clear. His comments were made in an op-ed for The Wall Street Journal only a few days after the Federal Open Market Committee released their latest statement on interest rates.