Futures for the Dow Jones Industrial Average were down 17 points, or 12.3 points above fair value, at 13,183. Futures for the S&P 500 were down 2 points, or 1.8 points above fair value, at 1412. Futures for the Nasdaq were down 3 points, or 0.3 point above fair value, at 2774. Gains on Monday canceled out all losses from the prior week, as some investors took Federal Reserve Chairman Ben Bernanke's warnings on long-term unemployment to mean that another round of economic stimulus may be on its way. The Dow rose 1.2% on Monday, the S&P gained 1.4%, while the Nasdaq, gaining 1.8%, posted its highest close in more than 10 years. On Tuesday, the S&P Case-Shiller home price index showed that U.S. home prices fell 0.8% in January and 3.8% annually. Economists according to Thomson Reuters expected prices to inch higher by 0.2% during January, making for a drop of 3.7% compared to the same time last year.
NEW YORK ( TheStreet) -- U.S. stock futures pointed to a lower open Tuesday as investors digested a disappointing read on home prices and awaited data on consumer confidence.
2012 Stock Predictions and Outlook
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