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NEW YORK (CNNMoney.com) -- U.S. stocks were poised to retreat from 6-month highs Tuesday, as investors gear up for another round of economic and earnings reports.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all lower ahead of the opening bell. Futures measure current index values against perceived future performance.
A stronger-than-expected report on existing housing sales Monday helped propel stocks to 6-month highs.
Zahid Siddique, associate portfolio manager of the Gabelli Trust Fund, said that investors are nervous ahead of the Nov. 2 elections and the potential impact -- or lack of impact -- they could have on the Bush administration's tax cuts, which are set to expire at the end of the year.
The week will likely be choppy as investors also face an onslaught of reports, both corporate and economic.
Economy: The Case-Shiller 20-City index of home prices in major metropolitan areas for August is due right before the market opens. Economists expect a 2% jump, after the previous month's 3.2% gain.
At 10 a.m. ET, the Conference Board will release a reading on consumer confidence for October. The index is expected to have ticked up to 49, from 48.5 in September.
Companies: Ford (F, Fortune 500) reported third-quarter earnings that beat analysts' expectations. The automaker reported a profit of $1.7 billion, or 43 cents per share. Ford also announced plans to futher pay down its debt. Shares were little changed in premarket trading.
DuPont (DD, Fortune 500) exceeded forecasts by reporting quarterly earnings of 40 cents per share early Monday, despite a decline in pharmaceutical income related to patent expirations. The stock was little changed in pre-market trading.
Valero Energy (VLO, Fortune 500) will also report earnings before the bell, while McKesson (MCK, Fortune 500) reports after the market closes.
Shares of Sony (SNE) surged nearly 3% early Tuesday, on media speculation that the electronics maker might be a takover target for Apple (AAPL, Fortune 500).
Late Monday, insurance giant AIG (AIG, Fortune 500) disclosed that its chief executive, Robert Benmosche, has been diagnosed with cancer and is undergoing "aggressive" treatment.
World markets: European stocks were lower in morning trading. Britain's FTSE 100 dropped 1.0%, and the DAX in Germany was down 0.6%. France's CAC 40 slipped 1.0%.
Siddique said the overseas markets are still reeling from Europe's debt problems, with recently unveiled austerity plans in the United Kingdom and France. Protests across France have paralyzed much of the country's infrastructure.
Asian markets ended the session lower. The Shanghai Composite was off 0.3%, while the Hang Seng in Hong Kong was 0.1% lower. Japan's Nikkei fell by 0.2%.
Currencies and commodities: The dollar strengthened against the euro and the Japanese yen, but fell against the British pound. Siddique said the dollar was coming off a low point versus some currencies, because it's still seen as a safe haven -- backed by the largest economy in the world.
Oil for December delivery slipped 51 cents to $82.01 a barrel.
Gold futures for December delivery fell $3.70 to $1,335.20 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 2.59% from 2.57% late Monday. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.80% | |
| 15 yr fixed | 3.09% | 3.11% | |
| 5/1 ARM | 2.65% | 2.69% | |
| 30 yr refi | 3.77% | 3.86% | |
| 15 yr refi | 3.09% | 3.21% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,454.83 | -74.92 | -0.60% |
| Nasdaq | 2,837.53 | -1.85 | -0.07% |
| S&P 500 | 1,317.82 | -2.86 | -0.22% |
| Treasuries | 1.74 | -0.01 | -0.80% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.15 | 0.01 | 0.14% |
| Sprint Nextel Corp | 2.62 | 0.09 | 3.56% |
| Cisco Systems Inc | 16.33 | -0.06 | -0.37% |
| Chesapeake Energy Co... | 15.81 | 0.23 | 1.48% |
| Ford Motor Co | 10.60 | 0.01 | 0.09% |
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