Stocks: 4 things to know before the open

August 26, 2014: 5:05 AM ET
S&P futures 2014 08 26
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LONDON (CNNMoney)

Is Wall Street ready for another record-setting day? Maybe, maybe not.

Here are the four things you need to know before the opening bell rings in New York:

1. Stock markets mellow: U.S. stock futures were little changed Tuesday and European markets were mostly in negative territory. Gold prices were higher by 1% to about $1,290 per ounce.

The early market mood just isn't quite as jubilant as it was Monday when the S&P 500 surpassed 2,000 for the first time ever. The Dow and the Nasdaq both rose by about 0.4%.

The latest reading on the CNNMoney Fear & Greed index shows investors are still feeling relatively fearful.

2. Earnings expectations: Shares in advertising giant WPP (WPPGY) were higher by roughly 2% in London after the firm reported strong half-year earnings.

"It seems as if the ill-fated merger of Omnicom and Publicis has led to WPP winning business as they post pre-tax profit ahead of forecasts," said Tom Robertson, a trader at Accendo Markets.

In New York, Best Buy (BBY) will report earnings before the opening bell. Gun maker Smith & Wesson (SWHC) will report after the close.

Related: M&A market is heating up

3. Economics: There are a few important economic announcements to watch Tuesday.

The S&P/Case-Shiller 20-city home price index comes out at 9 a.m. ET., followed by the Conference Board's consumer confidence index at 10 a.m.

Related: CNNMoney's Tech30

4. International markets overview: European markets were mostly lower in early trading Tuesday after rallying in the previous session. The London FTSE 100, which was closed for a holiday Monday, was higher as it played catch-up with the rest of the continent.

Most Asian markets ended with losses Tuesday.

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Markets
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Index Last Change % Change
Dow 16,461.32 -153.49 -0.92%
Nasdaq 4,382.85 -36.63 -0.83%
S&P 500 1,927.11 -14.17 -0.73%
Treasuries 2.23 0.02 0.95%
Data as of 10:27pm ET
Company Price Change % Change
Bank of America Corp... 16.40 -0.20 -1.20%
Yahoo! Inc 42.00 1.82 4.53%
Apple Inc 102.99 0.52 0.51%
Facebook Inc 78.37 -0.32 -0.41%
Boston Scientific Co... 12.32 0.29 2.41%
Data as of 4:04pm ET