Stocks: More European misery

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NEW YORK (CNNMoney) -- Investors are bracing for another choppy trading day Tuesday, as worries about the eurozone debt crisis continue to be at the forefront.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were mostly lower, gyrating on either side of breakeven ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

"It is more of the same," said Mark Luschini, chief investment strategist at Janney Montgomery. And it will continue to be more of the same. "Almost regardless of what we see, all eyes are going to be focused on what news is coming from Europe and the market is largely going to be trading off of that."

Stocks finished a choppy session higher Monday, as investors pinned their hopes for a turnaround in the last hour of trading, following a Financial Times report that said China was in talks with Italy about potentially buying the cash-strapped country's debt.

Investors are so on edge about all things Europe that every little bit of news gets a reaction. Futures briefly turned higher after Reuters reported that French President Nicolas Sarkozy and German Chancellor Angela Merkel were going to make a joint statement about Greece later in the day.

"[It] really just speaks to the level of anxiety that persists at the moment," said Luschini.

World markets: European stocks were mixed in mid-day trading. Britain's FTSE 100 (UKX) gained 0.2%, France's CAC 40 (CAC40) fell 0.7% and the DAX (DAX) in Germany rose 0.9%.

Asian markets ended mixed. The Shanghai Composite (SHCOMP) lost 1.1% while Japan's Nikkei (N225) added 1%. The Hang Seng (HSI) in Hong Kong was closed for holiday.

More layoffs looming on Wall Street

Economy: The latest data for imports and exports showed that import prices declined 0.4% in August, while export prices rose 0.5%.

Companies: Electronic retailer Best Buy (BBY, Fortune 500) reported profits of $177 million on sales of $11.35 billion before the opening bell. Sales were nearly flat from the year-ago period, but profits were down 30%.

CEO Brian Dunn cited "continued macro challenges to overall consumer spending, and lower consumer electronics industry sales" for lower profits in the most recent quarter. Shares rose 3% in premarket trade.

Currencies and commodities: The dollar was up against the British pound and the euro, but lost slightly against the Japanese yen.

Oil for October delivery gained $1.52 to $89.71 a barrel.

Gold futures for December delivery added $16 to $1,829.30 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, and the yield edged up to 1.96%.