Investors are anxiously awaiting earnings reports from several notable companies on Tuesday.
Sprint (S - Get Report) Kellogg (K - Get Report) and Discovery Communications (DISCK - Get Report) are scheduled to report during the regular trading session. After the markets close, Tesla Motors (TSLA - Get Report) and Etsy (ETSY - Get Report) will come out with their latest financial data.
When Tesla reports its third-quarter earnings, analysts are forecasting a loss of $0.48 a share on revenue of over $1 billion. Sales are expected to go up from a year ago, while earnings are projected to decline. In the third quarter of 2014, Tesla reported a profit of 2 cents a share on revenue of $932 million.
Investors will want to hear more about Tesla's new Model X, which was launched at the end of September.
Benjamin Stoto, Director of Research for CNBC's Mad Money, said, "We're going to be really watching the production numbers and, more importantly, the production guidance.
"The company announced last month that it missed its third-quarter production guidance, so we'll want to know what led to that miss and how they can turn it around for the fourth quarter in 2016."
While sales are estimated to show a year-over-year increase, one knowledgeable industry expert -- former GM (GM - Get Report) Vice Chairman Bob Lutz -- said that Tesla appears to be losing momentum. According to an article in Fortune, several reasons for Lutz's bearish outlook include bleeding cash, securitized assets and mounting inventory.
In addition to the earnings reports, several U.S. economic reports are due out Tuesday. One is motor vehicle sales, which are expected to show a slowdown for October, to a 17.7 million annualized rate from September's 10-year high of 18.2 million. In addition, the Redbook Research report will come out, followed by U.S. factory orders at 10 a.m.
TheStreet's U-Jin Lee reports in New York.