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Here's your Investing Action Plan for Tuesday: What you need to know as an investor.
Nike (NKE) and Carnival (CCL) will report quarterly earnings, the European Council begins a two-day meeting in the wake of the U.K.'s vote last Thursday to leave the European Union, and consumer confidence and home price data are slated for release.
Post-Brexit Damage Control
The European Council is scheduled to meet on Tuesday and Wednesday, with the first day's discussion centered on the U.K's referendum results, i.e. voters' decision to make a "Brexit" from the EU.
Migration and external relations, as well as jobs, growth and investment matters, are also on the agenda. But Wednesday's meeting will not include the U.K., with some of the other 27 member states looking to nudge London toward a speedier exit in an effort to minimize uncertainty.
Outgoing British Prime Minister David Cameron has said he will leave issues surrounding the departure from the EU -- including triggering the exit clause in the EU treaty -- up to his successor, who is expected to be picked in a few months.
Nike: Just Doing It?
Analysts anticipate the sportswear leader's per-share profit dipping by a penny, year over year, to 48 cents, with revenue growing by 6% to $8.28 billion.
While "athleisure" is still very much a thing at malls across America, a comeback from Adidas plus steady growth from Under Armour (UA) have presented Nike with increased competition for shopper dollars.
Look for talk of its progress in China and emerging markets, recent sports-goods retailer liquidations and the Summer Olympics. Discussion of the Brexit may also come up, given Nike's European presence.
Shares were down 1.5% Monday, after slipping 2.8% Friday.
Carnival: Will Brexit Make Waves?
The cruise line operator's earnings are projected to shoot up 56% to 39 cents a share on 2.5% revenue growth to $3.68 billion.
The travel sector has been slammed since the Brexit vote, with stocks in airlines, hotels and booking sites plunging, so earnings call chatter may include some Brexit discussion as well.
Shares of Carnival dropped 7.5% on Friday and were down 4.8% Monday.
Consumer Confidence, Home Prices
Consumer Confidence Index data is expected from the Conference Board, with a consensus forecast of 93.3 for June, which would be an increase from 92.6 in May, according to Econoday figures.
Tuesday also brings data from the S&P/Case-Shiller Home Price Index, with experts predicting 0.6% growth in the seasonally adjusted 20-city index and 5.5% growth in the non-seasonally adjusted 20-city tracker.