Stocks poised for a dip
Investors set to back off after pushing Dow to 13-month high. Report on median home prices on tap.
NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a lower start Tuesday as the momentum that fueled the previous session's rally started to fade.
S&P 500, Nasdaq-100 and Dow Jones industrial average futures were all lower.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
U.S. stocks soared Monday as investors took an optimistic view on the global recovery, after the Group of 20 said over the weekend that it would keep economic stimulus in place. The rally pushed the blue-chip Dow to its highest level in 13 months.
David Babbs, head of trading at MF Global in London, said markets are likely to stay flat for lack of news until they have something tangible to respond to, such as the initial jobless claims number on Thursday.
"It's going to be a little bit quiet," he said. "There's not really a lot to drive it. It's going to go sideways and wait for its next cue, around the corner."
Economy: The National Association of Realtors releases a report on median home prices at 10 a.m. ET.
Companies: Sprint Nextel (S, Fortune 500) said Monday that it plans to cut between 2,000 and 2,500 jobs in a bid to lower costs.
The European Commission has objected to Oracle's (ORCL, Fortune 500) proposed takeover of Sun Microsystems (JAVA, Fortune 500), which could threaten the deal.
World markets: Global markets were mostly higher. Asian shares finished the session in positive territory and European stocks posted mild gains in midday trading.
Money and oil: The dollar rose against major international currencies, including the euro, the yen and the British pound. The price of oil was practically unchanged, slipping 10 cents to $79.33 a barrel. 
-
The day after Thanksgiving is a great day for car shopping. 7 deals not to miss. More -
Luxury clothier sells suits to Warren Buffett and Chinese president Hu Jintao. Play -
Chris Pia, a master trader and Moore Capital alumnus, explains the market. More -
Pam Koner helped strangers through the recession. How are they faring? More -
Cloud whitening and space Frisbees could slow global warming. What'll work? More -
5 metro areas where a family can afford a home -- and the 5 where they can't. More
