NEW YORK (CNNMoney) -- U.S. stocks opened modestly lower Tuesday, despite a strong housing report and Greece reaching a deal with eurozone leaders.
While the housing report showed U.S. home prices making their biggest quarterly gains in more than two years, it was for the third quarter.
The fiscal cliff remains front and center for investors, as contentious negotiations continue.
The S&P 500, the Dow Jones Industrial Average and the Nasdaq shed between 0.1% and 0.2%.
Eurozone finance ministers and the International Monetary Fund announced late Monday they had reached an agreement that moves Greece closer to receiving a massive bailout payment. The deal includes lower interest rates for Greece, a debt buyback and more time for the debt-laden country to repay its rescue loans.
Yet Europe's woes continue to weigh on the U.S. The Organization for Economic Cooperation and Development warned early Tuesday that Europe's worsening economy next year will slow U.S. growth more than previously forecast.
Europe's Debt Crisis
European markets rose in afternoon trading, with Britain's FTSE 100 up 0.3%, Germany's DAX rose 0.5% and France's CAC 40 added 0.1%.
Asian markets ended mixed. The Shanghai Composite lost 1.2%, while the Hang Seng in Hong Kong ended up about 0.2% and Japan's Nikkei rose 0.4%.
Fear & Greed Index
The Case-Shiller 20-city index showed that home prices jumped 3.6% in the third quarter, up from one year ago and exceeding expectations of 3.1%. That's the biggest increase since the second quarter of 2010 and it's triple the increase from the prior quarter. Home price rose 2% in August.
On the domestic front, investors will continue to keep an eye on negotiations in Washington. With Congress back in session, lawmakers are under pressure to reach a deal with the White House before the end of the year in order to avoid falling over the fiscal cliff.
New orders of durable goods were flat in October, according to a U.S. Census Bureau report released Tuesday. Excluding transportation, new orders rose 1.5% in October.
Related: Most affordable cities for homebuying
At 10 a.m. ET, the Conference Board will release its report on consumer confidence. This month's figure will be particularly important, as retailers gear up for the holiday shopping season. Economists expect a slight uptick in November.
Stocks ended mixed on Monday, the first full trading day since last Wednesday, as fiscal cliff concerns countered strong holiday shopping reports.
Companies: Packaged food maker ConAgra (CAG, Fortune 500) announced it has reached a deal to buy Ralcorp (RAH), the largest U.S. manufacturer of private label food, for $90 a share in cash -- a 28% premium from Monday's closing price.
Swedish telecommunications company Ericsson (ERIC) said it was suing South Korean electronics maker Samsung for patent infringement.
Shares of Facebook (FB) were little changed Tuesday after rising more than 8% Monday following the upgrade of the stock by several analysts. Facebook has rallied nearly 50% since touching a low of $17.55 in early September. The stock, currently around $26, is trading at its highest level since late July. Shares of Facebook .
Currencies and commodities: The dollar gained against the euro and the Japanese yen but was flat against the British pound.
Oil for January delivery slipped 21 cents to $87.55 a barrel.
Gold futures for December delivery fell $3.70 to $1,745.30 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury stayed steady with a yield down to 1.66%. 
First Published: November 27, 2012: 9:49 AM ET
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