Stocks poised for slight pop

NEW YORK (CNNMoney.com) -- U.S. stocks were set for a modestly higher open Tuesday, following President Obama's appointment of Federal Reserve Chairman Ben Bernanke and a report showing a decline in home prices.

At 9:10 a.m. ET, the Dow Jones industrial average, Nasdaq 100 and Standard & Poor's 500 futures were pointing to a higher open. Futures ticked slightly higher after the Bernanke announcement.

Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.

This follows a cautious session on Monday, when trading lost wind toward the end of the day.

Fed: President Obama nominated Bernanke to a second term as head of the Federal Reserve, as expected. Obama made the announcement on Tuesday morning from Martha's Vineyard, Mass., where he is vacationing.

"I don't think the Bernanke news is that much of a market-mover, though I think it's good news and I think the markets like it," said Robert Brusca, chief economist at Fact and Opinion Economics, before the nomination was made official. "If [Obama] did not appoint [Bernanke], then that would be a big shock."

Economy: The Case-Shiller home quarterly prices report came out shortly before U.S. markets opened. The 20-city index showed a 15.4% decline in June prices, compared to one year before.

That's followed by a government reading on consumer confidence at 10 a.m. ET.

The White House is due to release its deficit and economic forecast at 9:30 a.m. ET. The Congressional Budget Office will issue its own briefing on the economy and budget shortly after at 10 a.m. ET.

World markets: After a strong start to the week, global markets slipped. In Asia, Japan's Nikkei lost about 0.8%. China shares tumbled nearly 3%. In Europe, major markets were modestly higher in morning trading.

Money and oil: The dollar slipped versus major international currencies, including the euro, the yen and the British pound. The price of oil was unchanged at $74.37 a barrel.

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