U.S. stocks set for tough open on Tuesday

At 4:42 a.m. ET, Nasdaq and S&P were lower, with a comparison to fair value pointing to a negative start for Wall Street.

Stocks fell on Monday after a report on existing home sales reignited concerns about the impact of the sluggish housing market on the broader economy.

Investors will get more information on the health of the economy with the release of the August consumer confidence report, due at 10 a.m. ET. Economists surveyed by Briefing.com expect sentiment to have tumbled to 104.5 from 112.6 in July.

The minutes from the Fed's meeting on Aug. 7 also are on tap. This is usually a closely watched report, but could have less of an impact on the market this time around since the central bank has intervened in the markets since its last meeting. The Fed minutes are due at 2 p.m. ET.

In global trade, stocks slipped. Seven straight sessions of gains in Europe looked set to be broken as stocks dipped in morning trade.