NEW YORK (CNNMoney.com) -- U.S. stocks were set for a flat open Wednesday as investors took a breather after the previous session's rally.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were little changed. Futures measure current index values against perceived future performance.
Strong retail earnings spurred a strong advance on Wall Street on Tuesday. The S&P 500 jumped 1.2%, the Nasdaq climbed 1.3% and the Dow rose 1%.
But with no major economic releases due out Wednesday, the market might have trouble finding direction.
"Investors are looking for evidence in the daily economic data to figure out whether a double-dip recession can be averted or is our destiny, " said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "In the absence of economic news, the market will see a pretty listless session."
He added that traders will continue to keep an eye on corporate results, but are looking for bold statements on the prospects for the third quarter and beyond.
Companies: Mining giant BHP Billiton (BHP) said Wednesday it was taking its takeover offer for Potash (POT) directly to the fertilizer giant's shareholders. On Tuesday, Potash's board rejected BHP's $38.6 billion bid.
Potash shares, which were up nearly 28% Tuesday, gained another 1% in premarket trading Wednesday, while BHP was down nearly 1% in premarket trading after a 2% drop Tuesday.
World markets: European shares tumbled in morning trading. Britain's FTSE 100 sank 0.7%, and the CAC 40 in France fell 0.4%. Germany's DAX lost 0.3%.
Markets in Asia ended the session mixed. Japan's benchmark Nikkei jumped 0.9%. But the Hang Seng in Hong Kong and the Shanghai Composite both finished the session with losses.
Currencies and commodities: The dollar fell against the euro, the U.K. pound, and the Japanese yen.
Oil futures for September delivery fell 97 cents to $74.80 a barrel. Gold for December delivery was down $2.30 to $1,226.
Bonds: Prices for Treasurys were higher. The yield on the 10-year note slipped to 2.61% from 2.63% late Tuesday. Bond prices and yields move in opposite directions. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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