Stocks poised for a flat open

NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a sluggish start Wednesday as the dollar remained under pressure and investors prepared to move to the sidelines after the previous session's big rally.

At 7:45 a.m. ET, Dow Jones industrial average, Nasdaq 100 and Standard & Poor's 500 futures were narrowly mixed.

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

"It's probably going to be a dullish start," said Gary Jenkins, fixed income strategist at Evolution Securities in London. "We've seen quite a good comeback and I think the markets are going to take a bit of a pause."

Stocks advanced Tuesday, led by commodity shares. The Nasdaq hit an 11-month high and the Dow and S&P 500 also climbed.

Jenkins said the markets could remain lackluster until the next wave of economic data. That would be Thursday, with reports on initial jobless claims and the trade balance.

Money: The weakness in the greenback could weigh on sentiment. The dollar held near its 2009 low against a basket of currencies and touched its lowest point all year against the Australian dollar. But in recent trading, the dollar did manage to edge up against some currencies, including the yen.

Drugs: Vivus (VVUS), a pharmaceutical company based in Mountain View, Calif., announced that it had successfully completed two late-stage studies for its experimental weight loss drug, Qnexa. Patients participating in the 56-week study lost an average of 14.7% of their body weight, or 37 pounds.

The company's stock price jumped more than 50% in pre-market trading.

Economy: Investors will look to the Federal Reserve's Beige Book of economic conditions for direction. The report comes out at 2 p.m. ET.

Companies: Palm (PALM) unveiled its latest smartphone, the Pixi. A smaller version of the Pre, the Pixi is geared towards younger users.

Apple is expected to launch new iPods at a music event at 1 p.m. ET and could also throw out a few surprises.

World markets: The mood overseas was mixed, with Asian shares finishing in negative territory but most European markets making modest gains in midday trading.

Oil: The price of oil slipped 6 cents a barrel to $71.04.

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