We might be at the top in the markets for now, markets are...

We might be at the top in the markets for now, markets are overbought now and it should pullback.

Dow Average Stocks Decline in Europe; Pfizer, Home Depot Slip
May 31 (Bloomberg) -- Dow Jones Industrial Average stocks fell in Europe in advance of a report that may show higher gasoline prices pushed consumer confidence down for a fourth straight month. Pfizer Inc. and Home Depot Inc. declined.

Eighteen of the 23 Dow average stocks trading in Germany slipped as of 8:40 a.m. in London. Standard & Poor's 500 Index futures expiring in June lost 1.9 to 1199.80. Dow average futures decreased 3 to 10548 and Nasdaq-100 Index futures fell 3 to 1552.5.

Financial markets in the U.S. were closed yesterday for the Memorial Day holiday.

The Conference Board's consumer confidence index is forecast to fall to 96 for May, the lowest since November, according to the median estimate of 41 economists surveyed by Bloomberg News. The index was 97.7 in April and at a six-month high of 105.1 in January.

The survey of 5,000 households covering economic conditions, employment prospects and spending plans is scheduled for release at 10 a.m. in New York.

Pfizer, the world's largest drugmaker, fell 10 cents to $28.25 in German trading. Home Depot, the biggest home- improvement retailer, fell 33 cents to $39.63.

Profits at U.S companies are estimated by analysts to increase at the slowest pace in three years as high energy prices prompt consumers and businesses to rein in spending.

Second-quarter earnings at the companies in the S&P 500 Index will likely rise 6 percent from a year earlier, the smallest gain since the second quarter of 2002, according to estimates based on Bloomberg data. Analysts as recently as April 1 estimated profits would rise 8 percent.

Also due for release today, The National Association of Purchasing Management-Chicago is forecast to report its index of area business dropped to 61.8 in May from 65.6 a month earlier, according to the median estimate in a Bloomberg News survey.

The S&P 500 Index closed last session up 0.1 percent to 1198.78. The Dow average also rose 0.1 percent, while the Nasdaq Composite Index added 0.2 percent.