Stocks seek direction after another late-day drop

By: Stephen Bernard
By: Stephen Bernard

NEW YORK (AP) - Stocks are looking for direction after another
late-day plunge sent the Dow Jones industrial average to its lowest
level in seven months. Stock futures are slightly higher.

Investors remain concerned about the strength of Europe's economy as countries grapple with rising debt problems. Federal Reserve chairman Ben Bernanke says European leaders are taking the right steps to handle the debt crisis. However, that hasn't been enough to reassure investors.

Gold touched a record high Tuesday as investors seek safety. Dow Jones industrial average futures are up 25, or 0.3 percent, at 9,819. Standard & Poor's 500 index futures are up 3.00, or 0.3 percent, at 1,051.00, while Nasdaq 100 index futures are up 5.00, or 0.3 percent, at 1,800.75.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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