Nike, Walgreen: Tomorrow's Headliners
NEW YORK (
) --
Nike
(NKE) - Get Report
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,
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.
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) - Get Report
and
Jabil Circuit
(JBL) - Get Report
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
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
released their latest statement on interest rates.
On the political front, the Senate Banking, Housing and Urban Affairs Committee will hold a hearing on strengthening bank supervision. The meeting will be interesting as Sen. Chris Dodd (D., Conn.), the chairman of the Senate Banking Committee, has proposed changes to President Obama's plan, including combining the Fed, the Federal Deposit Insurance Corp., the Office of Thrift Supervision and the Office of the Comptroller of the Currency into one agency to regulate banks.
-- Written by Robert Holmes in New York
.
