Small-cap stocks are expected to open slightly lower, with support from gains in Europe and Asia countered by a weak tone on tech stocks. Luxury goods makers were up in Europe and ocean shippers were riding the wave higher in Asia, but tech stocks were a worry overnight after warnings for U.S. firms and news of massive job cuts for Japan’s Sony. Stock index futures were down 0.1% in pre-market trading, suggesting a Russell 2000 (NYSE:IWM) open near 480.50.

Chip makers Texas Instruments Inc. (NYSE:TXN) and National Semiconductor Corp. (NYSE:NSM) both slashed revenue forecasts overnight, and were down some 5% in pre-market trading, which could drain enthusiasm out of the tech arena, especially in light of the Sony news.

Commodities were a driving force during Monday’s big rally, fueled by the infrastructure plans forwarded by President-elect Obama over the weekend. However, commodities were relatively tame in Europe and Asia overnight. Crude oil prices moved on either side of steady heading toward the U.S. stock market open, but copper prices tumbled 6% in London, which is a troubling sign since copper is considered a key barometer of economic activity.

Investors will look to see if the rescue package for automakers can be finalized today. The general perception is that an initial loan of some $15 billion is in the works, which should be enough to avert a “worst-case” scenario in which General Motors Corp. (NYSE:GM) or Ford Motor Co. (NYSE:F) declare bankruptcy and trigger a downward spiral of collapse among connected businesses.

The chart picture for small caps improved dramatically in recent days and . . .

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