Investors are closely watching Europe once again today as Euro zone finance ministers prepare to meet, but they are breathing a mild sigh of relief this morning: Monday's gains were the first in eight sessions for the S&P 500 and the Nasdaq, and only the second in eight sessions for the Dow Jones Industrial Average.
November, however, is on pace to register sizable losses, with the potential monthly drop representing the sixth in seven months.
The latest home price data is on the way this morning at 9am ET, courtesy of the latest Case-Shiller report.
Economists think home prices in the largest 20 cities will register a year over year drop of 3.1% for September, compared to a 3.8 percent decrease for August.
At 10am ET, the Conference Board's Consumer Confidence Index is seen jumping to 45 for November from October's 39.8.
Retailer Tiffany (TIF) is the only earnings report of note out this morning, and there are no major companies set to release earnings after today's closing bell.
Sovereign debt ratings are in the news this morning on several fronts: Fitch affirmed the AAA rating of the U.S. after Monday's closing bell, though it did drop the outlook to negative.
And a report in La Tribune today says Standard and Poor's may cut its outlook on France's AAA credit rating to negative within the next 10 days.
The debt rating of Netflix (NFLX) is also in the news, with S&P downgrading Netflix to BB- from BB, with a stable outlook.
Seagate Technology (STX) is a stock to watch this morning, rising after-hours on an upbeat outlook for this quarter and next.
Yahoo (YHOO) remains in the news on multiple fronts: All Things Digital reports that Marc Andreesen is considering a possible leadership role, as part of the effort by Silver Lake Partners to buy part of the company.
And Reuters reports that Thomas H.Lee Partners is interested in buying Yahoo's U.S. operations.
We'll also keep an eye on shares of battered Research In Motion (RIMM), as it introduces security software designed to work on phones that compete with RIM's BlackBerry.
One stock we can't yet watch is Facebook, but the Wall Street Journal is now reporting that the social media giant is now targeting dates between April and June of next year for its initial public offering.
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