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NEW YORK (CNNMoney) -- U.S. stocks were poised for a higher start Tuesday, as investors keep tabs on Europe ahead of a key summit and await reports on U.S. home prices and consumer confidence.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were slightly higher. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.
European leaders are under pressure to devise a means of backstopping the debt of struggling nations, while also laying the groundwork for growth. Investors are skeptical that Thursday's summit will produce much of substance, and U.S. stocks fell Monday amid global growth pessimism.
Spain and its ailing banking sector remain particularly troublesome for markets. On Monday, Spain officially requested EU loans to support its banks, a number of which were later downgraded by rating agency Moody's. Borrowing costs rose at Tuesday's auction of Spanish short-term bonds, revealing the low expectations that dog Thursday's summit.
Ernie Cecilia, Bryn Mawr Trust's chief investment officer, said premarket trading indicates investor reaction to "short-term and episodic" news.
"Markets keep looking for quick cures," he said, pointing to Thursday's meeting.
World markets: European stocks were mixed in morning trading. Britain's FTSE 100 (UKX) and the DAX (DAX) in Germany ticked up 0.2%, while France's CAC 40 (CAC40) shed 0.1%.
Asian markets ended mixed. The Hang Seng (HSI) in Hong Kong rose 0.5%, while the Shanghai Composite (SHCOMP) fell 0.1%. Japan's Nikkei (N225) lost 0.8% after lawmakers approved a plan to double the country's sales tax.
Economy: At 9 a.m. ET, the S&P/Case-Shiller index for April home prices will be released. Economists surveyed by Briefing.com expect prices to have dropped 2.5% from the same time last year.
The Conference Board's Consumer Confidence Index for June comes out at 10 a.m. ET. It's expected to decline slightly, to 64 in June from 64.9 in May.
Companies: For-profit education company Apollo Group (APOL), which operates the University of Phoenix, released its third-quarter results after Monday's close. While net revenue declined due to lower enrollment, results still beat analysts' expectations, sending the company's shares higher after hours.
Currencies and commodities: The dollar was flat against the euro, but fell against the British pound and Japanese yen.
Oil for August delivery rose 7 cents to $79.28 a barrel.
Gold futures for August delivery fell $3 to $1,585.40 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.63% from 1.61% late Monday.
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