NEW YORK (CNNMoney.com) - U.S. stocks could be poised to take a breather Monday, after starting the first week of the new year with gains, as oil prices continue to climb and investors opt for caution as earnings season kicks off.

U.S. stock futures were mixed, indicating a sluggish open for the major indexes. The Dow industrials, S&P 500 and the Nasdaq composite all pushed to fresh 4-1/2 year highs last week as investors placed bets that the Federal Reserve tightening cycle will soon end, and shrugged off a disappointing jobs report.

The Dow, in particular, is within 41 points of the 11,000 mark.

"The market is headed for a mixed session in the next day or two as earnings begin to flow," said Peter Cardillo, chief market analyst at S.W. Bach & Co. "But the first quarter should be positive, with double-digit (percentage) earnings growth and that could propel the market higher over the next few weeks."

Cardillo added that the market will also be paying close attention to economic reports and the actions of the Federal Reserve.

There are some concerns, however, about the state of the economy next year. Billionaire investor George Soros said Monday the Federal Reserve might overshoot in its bid to tighten monetary policy, deflating housing prices and tipping the economy into recession in 2007.

Oil prices were up in early trading. The February light crude futures contract for NYMEX was up 26 cents to $64.47 a barrel in electronic trading, while the February contract for Brent crude was up 17 cents to $62.89.

Treasury prices were slightly lower, with the yield on the 10-year note edging up to 4.38 percent from 4.37 percent late Friday. The dollar lost ground against the yen but gained on the euro.

Asian markets ended mostly higher; Tokyo was closed for a national holiday. European markets were higher.

In corporate news, Tyco (Research)'s board of directors will meet in Bermuda this week to consider a plan that could break up the $60 billion conglomerate, the Wall Street Journal reported, citing people familiar with the matter.

Bank of America (Research) and PNC Financial (Research) received approval from regulators to develop and own large hotel and office properties, potentially opening the door wider for banks to the commercial real-estate business beyond their traditional role as lenders, the Wall Street Journal reported.

Boston Scientific (Research) made a formal offer to buy Guidant (Research) in a deal worth $25 billion in cash and stock. The company added that it will sell a number of Guidant units to Abbott Laboratories (Research) -- a move it anticipates will allow for quicker antitrust clearance if its offer is accepted.

For a more detailed look at the markets before the open, click here.