Here’s what investors need to know about Tuesday before hitting the door. (The market will be closed Monday in observance of the Washington’s Birthday holiday.)
Walmart is set to report fourth quarter earnings on Tuesday before the market opens. The Street is expecting the big-box retailer to earn $1.44 per share on $142.54 billion in revenue, according to estimates from FactSet. This represents 2.7% year-over-year revenue growth, and would be 11.4% higher than the $127.99 billion Walmart earned in the prior quarter.
Investors will be watching the retailer’s report closely, since it will include sales from the all-important holiday season.
Shares of Walmart slid alongside the broader S&P Retail ETF on Friday after the U.S. Commerce Department said that clothing store sales in January fell the most since 2009.
The New York Fed will issue its Empire State Manufacturing Index at 8:30 am. This is a closely followed gauge of output from the New York area, as well as import and export prices and business inventories.
Analysts are calling for a reading of 4.5. Last month’s reading came in at 4.8.
Major events (all times Eastern):
8:30 a.m. Empire State Manufacturing
10:00 a.m. NAHB Survey
2:00 p.m. Fed’s Kashkari
Walmart (before the bell)
Medtronic (before the bell)
Advance Auto Parts (before the bell)
Diamondback Energy (after the bell)