Investors eyed both falling home prices and new Irish and Portuguese debt auctions which increased the cost of borrowing for those euro-zone countries – but before the markets opened on Tuesday, U.S. stock futures were still positive.
In the U.S., the big news was housing prices – the S&P/Case-Shiller index of property values rose just 3.2 percent from July 2009, the smallest increase on a year-over-year basis since March. The effect of a government stimulus helped boost home prices in previous months, but that effect now appears to be fading, as many who would have bought homes pushed their purchases up to take advantage.
Dow Jones Industrial Average index futures climbed 32 points to 10,782, while Nasdaq 100 index futures rose 11 points to 2,018.25 at 9:01 a.m. EST. S&P 500 index futures were up 3.5 points to 1,141.2.
Action in the European markets was a bit more subdued, with DJ Euro STOXX 50 index futures rising just 10 points to 2,775 and FTSE 100 index futures falling 5.5 points to 2,775.
In Tokyo, Nikkei 225 index futures rose just 10 points to a round 9,500.