Stocks Slide, retail sales, Home Depot, Nvidia, Buffett bets on housing

^{Five things you need to know before the market opens on Tuesday August 15:}

1. -- Stocks slump lower As China data, rate cuts, rattle global markets

U.S. stocks are looking at a softer open Tuesday following a twin set of rate cuts overnight in China that suggest gloomy prospects for the world's second-largest economy.

2. --  Retail sales data on deck with economists looking for Amazon Prime Day Boost

Spending trends are starting to soften as U.S. consumers run-down their pandemic era savings, but a big boost from Amazon's Prime Day sales could support July data.

3. -- Home Depot earnings top Street forecast, repeats full year outlook

Home Depot firmly beat Street earnings forecast for the second quarter, but remained cautious on the home improvement sector heading into the back half of the year.

4. --  Nvidia extends gains as Wells Fargo, UBS lift price targets into Q2 earnings

Wall Street continues to see deeper AI demand over the back half of the year supporting sales and earnings from chipmaker Nvidia, which reports second quarter earnings next week.

5. -- D.R. Horton shares leap after Warren Buffett reveals homebuilder stake

Billionaire investor Warren Buffett looks to have made a big bet on the U.S. housing market.