The U.S. consumer will be in focus Tuesday as Wall Street eyes some related economic reports and earnings. Investors also will watch for indications on oil prices and the path of Fed tightening, with key policymakers scheduled to speak throughout the day.
Jeremy Klein, chief market strategist at FBN Securities, said the consumer confidence figure is most important to him of the reports scheduled for Tuesday.
"If consumer confidence starts to unwind, that could be concerning because now the negative weight from Wall Street is starting to spill over into Main Street," he said.
Oil prices will remain a primary focus for stock market action, especially as Saudi Oil Minister Ali al-Naimi is scheduled to speak at the CERAWeek energy conference Tuesday at 9:50 a.m.
His remarks follow OPEC Secretary General Abdalla Salem El-Badri's comments Monday that the cartel is willing to work with non-OPEC producers to find a solution to low oil prices.
Stabilization in oil prices above $30 will likely support overall stock market gains, analysts said.
Reference: CNBC
Read More: http://www.cnbc.com/
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