What to Watch Tuesday: Procter & Gamble Earnings, Inflation Data

On Tuesday, August 2, Procter & Gamble (PG) - Get Report reports quarterly results and the Federal Reserve's preferred inflation gauge is released. Analysts expect Procter & Gamble to post earnings of $0.74 a share on sales of $15.83 billion. During the same quarter a year ago, the company reported earnings of $0.93 a share with revenue of $17.79 billion. Investors await updates on the company's performance in China. Other notable earnings due out on Tuesday include CVS Health (CVS) - Get Report , Etsy (ETSY) - Get Report and Fitbit (BIT) - Get Report . On the economic calendar, a host of economic data is released at 8:30am Eastern including consumer spending and personal income figures for June, along with the personal consumption expenditure price index, a key inflation gauge. TheStreet's Scott Gamm reports from Wall Street.