Stocks: Rally losing momentum?

November 12, 2013: 7:29 AM ET
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NEW YORK (CNNMoney)

Is the bull feeling faint?

U.S. stock futures were pointing to a softer start Tuesday as investors consolidate recent gains and look for reasons to push markets to even higher peaks.

Stocks have surged this year thanks to a slowly recovering economy and continued bond buying from the Fed, leaving the major U.S. indexes sitting at or near record highs.

"The market is basically doing pretty good, considering that tapering is back on the table," said Peter Cardillo, chief market economist at Rockwell Global Capital.

It's a light corporate news and economic calendar Tuesday, with quarterly results earnings before the bell due from DISH Network (DISH) and Yingli Green Energy (YGE). DISH reported a quarterly gain in profit and revenue, compared with the year-ago quarter.

Related: Fear & Greed Index, still greedy

U.S. markets eked out narrow gains Monday.

European markets were mixed in morning trading.

Most Asian markets closed on a positive note. Japan's Nikkei spiked 2.2% after official data showed a better-than-expected current account balance.

China's Shanghai Composite was up 0.8%, while Hong Kong's Hang Seng Index dropped 0.7% before the end of a major Chinese government meeting.

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Markets
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Index Last Change % Change
Dow 16,804.71 -238.19 -1.40%
Nasdaq 4,422.09 -71.31 -1.59%
S&P 500 1,946.16 -26.13 -1.32%
Treasuries 2.41 0.01 0.46%
Data as of 9:24am ET
Company Price Change % Change
Applied Materials In... 20.96 -0.65 -3.01%
Regions Financial Co... 9.89 -0.15 -1.49%
American Internation... 52.96 -1.03 -1.91%
Medtronic Inc 62.47 0.52 0.84%
Huntington Bancshare... 9.60 -0.14 -1.49%
Data as of Oct 1