Stocks poised for early pop

NEW YORK (CNNMoney.com) -- Stocks were poised to open higher Tuesday as investors digested a report that showed the economy grew in the third quarter, but at a more tepid pace than forecast.

The Dow Jones industrial average, Nasdaq-100 and S&P-500 futures were all higher, though the gains eased off slightly after the government said that third-quarter gross domestic product rose less than expected.

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

Investors were also awaiting a reading on the housing market, due after the opening bell.

Stocks rallied Monday, pushing the Dow back into positive territory for the month, as investors cheered a combination of analyst upgrades and corporate deal-making.

"Momentum over the last couple of days has been strong," said David Jones, chief market strategist at IG Markets in London. "There's still a chance we could see the Dow hit 10,500 by the end of the year."

However, trading volume has been light, and "low volumes, as ever, tend to exaggerate the moves," he warned.

The Dow closed at 10,385 on Monday.

Economy: The Commerce Department on Tuesday released its final revision of third-quarter gross domestic product, the broadest measure of economic activity. The government said that GDP rose 2.2% in the three months ended in September.

That was less than the 2.7% gain projected by economists surveyed by Briefing.com. The final GPD figure was also below the 3.5% growth rate the government first reported in October. Nonetheless, it was still a marked improvement over the previous four quarters in which economic activity shrank.

Shortly after the market opens, the National Association of Realtors will release a report on existing home sales for November. Economists surveyed by Briefing.com expect the annual sales rate to rise to 6.25 million from 6.1 million in October.

Company news: Ford Motor (F, Fortune 500) announced Monday that it offering buyouts and early retirement to its 41,000 U.S. factory workers. The carmaker is looking to cut payroll costs in its effort to return to profitability by 2011.

World markets: Stocks in Asia closed higher, with Tokyo's Nikkei index up 1.9. European markets gained in midday trading.

Money and oil: The dollar gained against the yen and pound, but was lower versus the euro.

Crude oil for February delivery dropped 59 cents to $73.13 a barrel.

Gold for February delivery dropped $4 to $1,091.40 an ounce.