Investors were stepping back Tuesday.
With little on the corporate or economic dockets, U.S. stock futures were little changed.
Stocks have been on a tear this year, with all three indexes up roughly 15% so it's not unexpected to see some pullback.
"The market has been trending very aggressively," said Societe Generale analyst Sebastien Galy. But investors aren't panicking.
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Ahead of the market open, the U.S. Bureau of Labor Statistics reported import prices fell 0.5% last month and export prices decreased 0.7%.
As earnings wind down, a few big names are still on deck this week, including Macy's (M), Wal-Mart (WMT), J.C. Penney (JCP) and Cisco (CSCO).
Shares of Take-Two Interactive (TTWO) jumped in premarket trading after the maker of Grand Theft Auto easily beat profit forecasts.
SolarCity (SCTY) -- chaired by Tesla Motors (TSLA) head Elon Musk -- reported a wider-than-expected loss and offered weak guidance, sending shares plunging. The sell-off spilled into rival First Solar (FSLR).
Sony's (SNE) stock rose after hedge fund titan Dan Loeb said his firm, Third Point, had amassed a 6% stake, making it the largest shareholder. Loeb wants to spin off the Japanese company's movie and music division.
Of the 453 S&P 500 companies that have reported earnings results for the first quarter, 301 have beat analysts' estimates, 115 have missed, and 37 have met, according to S&P Capital IQ.
U.S. stocks finished mixed Monday, although the S&P 500 managed to nudge up to a new record.
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European markets rose in midday trading, reversing earlier losses.
The Center for European Economic Research reported that German economic sentiment had "moved sideways" in May, gaining 0.1 point after experiencing a sharp decline the prior month.
Meanwhile, the main Asian markets ended the day in the red. The Shanghai Composite lost 1.1%, the Hang Seng lost 0.3% and the Nikkei in Tokyo edged down by 0.2%.
