What to Watch Tuesday: Best Buy Earnings, New Home Sales

On Tuesday, August 23, investors will get quarterly results from Best Buy (BBY) - Get Report and fresh housing market data. Before the markets open, analysts expect Best Buy to report earnings second quarter earnings of $0.43 a share on sales of $8.4 billion. During the same quarter a year ago, the retailer reported earnings of $0.49 a share with revenue of $8.53 billion. Domestic same store sales showed no growth in first quarter. The J.M. Smucker Company (SJM) - Get Report and Toll Brothers (TOL) - Get Report also reports earnings before the markets open. On the economic calendar, July new home sales are set to be released at 10am Eastern, which are expected to fall to 580,000. TheStreet's Scott Gamm reports from Wall Street.