What's Ahead Tuesday: Will TJX Deliver Higher Earnings, Revenue

In "What's Ahead on Wall Street" for Tuesday May 17, two notable earnings reports will be on our radar: Home Depot (HD) - Get Report  and TJX (TJX) - Get Report .

When TJX reports its first-quarter results, analysts are expecting earnings of $0.71 a share on revenue of around $7.3 billion. Compared to a year ago, both the top and bottom line are projected to increase.

Thanks to its marketing and promotional initiatives, consumer traffic is expected to have improved in the most recent quarter.

Molly Henningsen, research analyst for CNBC's "Mad Money," commented on TJX ahead of earnings.

"The TJX Companies' report on Tuesday will be a very good indicator of how widespread the pressure on the retail segment actually is. We've seen very concerning results out of the department stores and the traditional mall-based retailers so far this quarter.

"TJ Maxx has traditionally outperformed those pockets of the retail sector, but investors will want to see if that trend remains true this quarter.

"So the market will want to see a year-over-year revenue growth, they'll want to see an acceleration in comparable store sales, and they'll want a reiteration or a raise in guidance for the rest of the fiscal year."

On the economic calendar, we'll be focusing on both the Consumer Price Index and U.S. housing starts, followed by the industrial production numbers.