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.

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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.

Markets
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Index Last Change % Change
Dow 17,804.80 26.65 0.15%
Nasdaq 4,765.38 16.98 0.36%
S&P 500 2,070.65 9.42 0.46%
Treasuries 2.18 -0.03 -1.27%
Data as of 7:17am ET
Company Price Change % Change
Bank of America Corp... 17.62 0.09 0.51%
Apple Inc 111.78 -0.87 -0.77%
General Electric Co 25.62 0.48 1.91%
Intel Corp 36.37 -0.65 -1.76%
Microsoft Corp 47.66 0.14 0.29%
Data as of Dec 19