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 17,265.99 109.14 0.64%
Nasdaq 4,593.43 31.24 0.68%
S&P 500 2,011.36 9.79 0.49%
Treasuries 2.63 0.03 1.12%
Data as of 2:49am ET
Company Price Change % Change
Bank of America Corp... 17.04 0.27 1.61%
Yahoo! Inc 42.08 -0.50 -1.19%
Apple Inc 101.79 0.21 0.21%
Microsoft Corp 46.68 0.16 0.34%
General Electric Co 26.21 0.16 0.61%
Data as of Sep 18