Stock futures fell ahead of the open Tuesday as investors waited for the next batch of earnings and key economic data.
While Monday's Wall Street gains could hardly be called overwhelming, many investors are looking at the session in a bullish light, given that stocks had been down for most of the session before finishing with those small gains.
A 15-point gain for the Dow was enough to push it to its highest close since Nov. 5, while the S&P 500's nearly-three-point advance was enough to push it to its highest finish since November 4.
Other bullish notes as we head for the end of July: the Dow is on pace for its biggest monthly percentage gain since October 2002, generally considered to be the beginning of the last bull market.
As has been the case the past week or so, earnings will figure heavily into the market's direction. Among the companies set to report before the opening bell: Coach, Energizer, Interpublic, McGraw-Hill, Office Depot, Paccar, Smith International, Supervalu, Teva Pharmaceutical, Textron, Under Armour, Unisys, Viacom, Valero Energy, and U.S. Steel.