NEW YORK (CNNMoney.com) -- Investors were looking for direction following another warning from the troubled housing sector as they waited for the latest reading on consumer confidence.

S&P and Nasdaq futures traded mixed about 90 minutes before the open after being lower in earlier trading, pointing to a struggle at the start for Wall Street.

Concerns about the weakening housing and home building sector could get fresh attention Tuesday after Lennar (Charts), the nation's No. 3 homebuilder, said Tuesday that fourth-quarter results will fall far short of forecasts.

CEO Stuart Miller warned in a statement that it's "not clear that the homebuilding downturn has yet found a floor." The company also reported a sharp drop in third-quarter earnings.

Investors and economists also will be watching the latest reading on consumer confidence, due shortly after the stock market opens, from the Conference Board, a private research group.

Economists surveyed by Briefing.com forecast that lower energy prices helped the confidence index rebounded to 103.0 on average in September from 99.6 in August.

Peter Cardillo, chief market strategist SW Bach, said futures are being helped by the anticipation of a strong consumer confidence number, coupled with portfolio managers making end-of-the-quarter adjustments in their holdings.

Cardillo also pointed to tech bellwether Cisco Systems (Charts) getting a "buy" recommendation, and a $30 price target, from analysts at Jefferies & Co. who initiated coverage of the networking equipment company Tuesday.

The price-target is nearly 30 percent above Monday's close. Shares of Cisco gained 1.2 percent in heavy Frankfurt trading Tuesday.

Elsewhere, oil prices lost ground early Tuesday following Monday's rebound. November futures for U.S. light crude fell 45 cents to $61 a barrel in electronic trading. Brent crude traded in London sank 55 cents to $60.25.

Treasury prices edged lower, lifting the yield on the 10-year not to 4.57 percent from 4.54 percent late Monday. Bond prices and yields move in opposite directions.

The dollar was up against the euro but slightly lower against the yen.

The major indexes in Asia closed lower, while stocks in Europe were up in early trading.

In other corporate news, the nation's No. 2 home improvement retailer Lowe's (Charts) warned Monday evening that sales are trending below its expectations, although it said its full-year earnings will be at or near the low end of its prior guidance.

General Motors (Charts) has raised doubts in its talks with Renault and Nissan Motor (Charts) that a three-way alliance would yield the benefits, the New York Times reported Tuesday, citing a senior executive at Renault. The three companies are holding talks, due to conclude in mid-October, on GM possibly joining the Nissan-Renault alliance.

In the tech sector, No. 1 chipmaker Intel (Charts) is due to unveil new products at a three-day developer's forum that starts Tuesday.

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