NEW YORK (CNN/Money) - News that tech leader IBM is the subject of a Securities and Exchange Commission probe set U.S. stocks up for a weaker open Tuesday, one session after the Dow crossed 9,000 for the first time in months but couldn't sustain the gains.

At 8:15 a.m. ET, futures pointed to a mixed to lower open for the major indexes.

IBM said Monday that the Securities and Exchange Commission has begun a formal investigation of how the world's No. 1 computer maker booked its sales in 2000 and 2001. A company spokesman said IBM is cooperating with the probe.

The technology leader is a member of the Dow 30 and tends to influence computer hardware and software issues, making its pre-market decline notable. The stock is currently down $3.17 to $84.25 in Instinet pre-open trading.

"This is just what the market doesn't need right now and will hurt investor confidence," Steve Previs, a trader in U.S. shares at Jefferies International in London told Reuters.

Weakness in European markets on selling in telecoms and technology added to the downward pressure, as did some early strength in Treasury bonds.

For details of Monday's session, click above

The market also is likely to see some pullback after the Dow broached 9,000 Monday before pulling back. However, even with some late day selling, the Dow managed to close at a new 2003 high, as did the S&P 500. The Nasdaq closed at a new 2003 high last Friday. (see chart for details)

Stocks have been rallying sharply for months on hopes that the economy and corporate profits will pick up in the second half of the year, despite only mixed evidence of such. Market optimism may find some challenges in the weeks ahead, heavy on economic data and also the period during which companies tend to issue warnings on their quarterly results.

In the day's economic news, new vehicle sales for May are forecast to be little changed from April, according to economists surveyed by Briefing.com, with car sales at an annual rate of 5.4 million and truck sales down slightly to an annual rate of 7.5 million.

The reports may also be significant for what the carmakers say about how they're going to get people to buy their products this summer. DaimlerChrysler's (DCX: Research, Estimates) Chrysler unit already has extended interest-free financing through Sept. 2, and the other members of the Big Three are expected to follow suit.

In other corporate news, chip stocks such as Intel (INTC: Research, Estimates) also may come under pressure after a key industry report cut its growth forecasts for global semiconductor sales in 2003 and 2004 due to the sluggish world economy and the impact of the SARS virus.

The World Semiconductor Trade Statistics (WSTS) group said Tuesday it now expects the chip market to grow by 11.5 percent to $156.9 billion in 2003, rather than the 16.6 percent it forecast last October.

In addition, SoundView Technologies downgraded chipmakers Xilinx (XLNX: Research, Estimates) and Altera (ALTR: Research, Estimates) to "neutral" ahead of their mid-quarter updates, expected later today.

Among the other stocks to watch Tuesday is FedEx (FDX: Research, Estimates), the package deliverer, which is reducing its work force by 14,000 through severance and early retirement. Shares of FedEx rose 63 cents to $64.61 Monday.

Asian stocks ended mixed Tuesday, with Tokyo's Nikkei up 0.2 percent. European markets retreated at midday.

Treasury prices rebounded in early trading, sending the 10-year note yield down to 3.39 percent from 3.42 percent late Monday. The dollar was slightly lower against the yen and slightly higher versus the euro.

Brent oil futures pulled back 8 cents to $27.30 a barrel in London, where gold was slightly higher.  

-- Reuters contributed to this report.