Stocks headed for a weak start

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NEW YORK (CNNMoney.com) -- U.S. stocks were headed for a lower start Tuesday, following declines in global markets on lingering economic worries. Investors were also anticipating a weak report on the housing market.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were down. Futures measure current index values against perceived future performance.

Stocks ended a choppy session lower Monday, after concerns about the economy cooled upbeat sentiment tied to a recent spate of corporate dealmaking.

"There's a huge amount of frustration about the speed of the recovery and concerns that it has hit a wall, said Tom Speiss, head of personal wealth advisers at Eisner LLP. "I'm expecting the market to move laterally following downward trends in Asia and Europe."

Economy: Housing will take center stage after the market opens, when the National Association of Realtors reports on sales of existing homes.

Economists surveyed by Briefing.com expect a drop to an annual rate of 4.72 million units in July, from 5.37 million in June.

Companies: Barnes & Noble (BKS, Fortune 500), which put itself up for sale earlier this month, reports quarterly earnings before the opening bell.

Analysts expect the bookseller to report a fiscal first-quarter loss of 80 cents per share, versus a profit of 14 cents per share a year ago.

World markets: European shares sank in early trading. The CAC 40 in France fell 1.4%, Britain's FTSE 100 lost 1.1%, and the DAX in Germany fell 1%.

Asian markets ended mixed. Japan's benchmark Nikkei index ended down 1.3% and the Hang Seng in Hong Kong fell 1.1%. But the Shanghai Composite edged up 0.4%.

Currencies and commodities: The dollar fell to a 15-year low against the Japanese yen, but climbed against the euro and the British pound.

Oil futures for October delivery fell 95 cents to $72.15 a barrel. Gold for December delivery slipped $8 to $1,220.50 an ounce.

Bonds: Prices for Treasurys were higher. The yield on the 10-year note fell to 2.55% from 2.61% late Monday. Bond prices and yields move in opposite directions. The U.S. Treasury will offer $37 billion worth of 2-year notes on Tuesday. To top of page

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Index Last Change % Change
Dow 12,884.03 82.80 0.65%
Nasdaq 2,932.10 28.22 0.97%
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Treasuries 2.00 0.03 1.42%
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Company Price Change % Change
Bank of America Corp... 8.30 0.22 2.79%
Sprint Nextel Corp 2.32 0.02 1.09%
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General Electric Co 19.06 0.19 1.00%
Ford Motor Co 12.60 0.16 1.29%
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