What to Watch Tuesday: Q1 GDP, Nike and Carnival Report Results

On Tuesday, June 28, investors will keep an eye on some key economic data and earnings. Up first, the final reading on first quarter GDP is released at 8:30am Eastern. Analysts expect GDP to rise by one percent, compared to the previous estimate of 0.8 percent. At 9am Eastern, the S&P Case-Shiller Home Price Index for April is unveiled, along with Consumer confidence for June at 10am Eastern. On the earnings calendar, Carnival Corporation (CCL) - Get Report reports quarterly results before the markets open. Then after the markets close, sportswear company Nike (NKE) - Get Report is set to release results. Analysts expect profit of $0.48 a share on sales of $8.3 billion. During the same quarter last year, the company posted profit of $0.49 a share with revenue of roughly $7.8 billion. TheStreet's Scott Gamm has details from Wall Street.