US Market Shifts Focus to Home Depot Earnings and Housing Data

The US market is shifting focus to key catalysts on Tuesday as the Dow Industrials fell more than 270 points, and all three major averages posted back-to-back losses. Rising oil prices and higher Treasury yields are adding pressure on investors. With earnings reports and fresh economic readings due out, sentiment for the next session will be put to the test.

Home Depot stock has risen 13.6% in the past three months but remains 21% below its September 2025 high ahead of Q2 earnings. The July housing starts data is also expected to fall 6.1% month-over-month to 1.34 million units, according to Dow Jones consensus.

DRAM-focused memory stocks like Sandisk, Seagate, Micron, and Western Digital have seen triple-digit year-to-date gains but all trade below recent highs. Meta Platforms faces increased legal pressure from a California suit related to harm to minors. Gold futures jumped 11% in a month, and the VanEck Gold Miners ETF (GDX) rose almost 29%, although it remains 21% below its March high.

Traders are watching a packed Tuesday calendar that includes Home Depot on 'Squawk Box', July housing starts, industrial production, and earnings updates from Amer Sports, Klarna, and Toll Brothers. BHP also draws attention as CEO Brandon Craig appears on 'Morning Call' in his first major interview since taking the top role on July 1.