Target reports, AutoZone earnings, JM Smucker: 3 things to watch

By Liz Moyer

Investing.com -- Stocks were rising on Monday, after last week's rout led to the worst week for stocks so far this year.

Investors are still worried about the Federal Reserve's interest rate increases, with at least two more expected at its meetings in March and May. Futures traders are betting that the benchmark rate will reach above 5.1% later in the summer, but then it's guesswork about how long rates will stay elevated until the Fed begins cutting. 

Hotter-than-expected inflation data last Friday sent stocks lower, though tech stocks helped rally the indexes today. It's a big week for earnings from major retailers such as Target , which reports early Tuesday morning. But otherwise it's a light week for economic data.

Data on housing prices from December is due out Tuesday morning, as is a reading on consumer confidence. Later this week, investors will get the latest reading on initial jobless claims and services activity.

Goldman Sachs (NYSE:GS) hosts an investor day on Tuesday amid pressure about its consumer banking operations, and Tesla (NASDAQ:TSLA) will unveil its next strategic moves at an investor day on Wednesday.

Here are three things that could affect markets tomorrow:

1. Target reports

The retailer Target Corporation (NYSE:TGT) is expected to report earnings per share of $1.40 on revenue of $30.6 billion for the latest quarter, but investors will be listening to what it says about shifting consumer spending habits and its outlook for the first quarter and full year.

2. AutoZone earnings

The car parts retailer AutoZone Inc (NYSE:AZO) is expected to report earnings of $21.83 a share on revenue of $3.56B. Investors will be listening to what it says about demand given a recent slowdown in auto buying.

3. JM Smucker earnings

The jelly and jam maker JM Smucker Company (NYSE:SJM) is expected to report earnings per share of $2.13 on revenue of $2.22B.