Stocks set for modest losses

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NEW YORK (CNNMoney) -- U.S. stocks were poised to kick off the week slightly lower, as worries about the stability of Greece and Italy continued to hang over global markets.

The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were down less than 1%. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

After another week of wild swings, the Dow ended last week down 2%. The S&P 500 lost 2.5% for the week and the Nasdaq (COMP) dropped 1.9%.

Investors remain wary about the European debt crisis, after the Group of 20 summit in Cannes, France last week failed to produce any tangible new solutions.

"All is still not well in Europe, and it's not going to be well for a while," said Manoj Ladwa, a senior trader at ETX Capital. "There's a lot more work to be done, so this could drag on a lot further."

Greek Prime Minister George Papandreou secured a deal to approve a bailout package during last week's meeting of global leaders, but talks yielded limited details.

And while Greece has been the center of focus, investors are now turning their attention to the domino effect Greece's problems are likely to have on Italy.

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"Greece is shifting slightly to the backburner and the focus is on Italy, with 10-year yields on Italian bonds rising to new highs," said Ladwa."The line is not being drawn under Greece, so the volatility is moving to Italy and other European nations."

Mounting political uncertainty in Italy and Greece is also likely to add to volatility in the short-term.

Italian Prime Minister Silvio Berlusconi on Monday denied reports that he was about to step down, after tens of thousands of protesters gathered in Rome over the weekend to decry his handling of the economy.

Papandreou survived a confidence vote in Athens on Friday, but by Sunday, he was making plans to hand over the reins to a yet-unamed new prime minister. Papandreou will meet with opposition leader Antonis Samaras Monday.

World markets: European markets were choppy in midday trading, rising off earlier lows on speculation that Berlusconi might step down. Britain's FTSE 100 (UKX) dropped 0.5%, the DAX (DAX) in Germany was flat and France's CAC 40 (CAC40) slipped 0.4%.

Asian markets ended lower. The Shanghai Composite (SHCOMP) fell 0.7%, the Hang Seng (HSI) in Hong Kong lost 0.8% and Japan's Nikkei (N225) declined 0.4%.

Economy: The Federal Reserve will release data on consumer credit for the month of September on Monday. Analysts surveyed by Briefing.com expect credit to have expanded by $5 billion, after dropping by $9.5 billion in August.

The monthly jobs report showed Friday that the U.S. added 80,000 jobs in October. Economists surveyed by CNNMoney were expecting a gain of 98,000 jobs.

Companies: DISH Network (DISH, Fortune 500) posted earnings per share that missed estimates by two cents, sending shares of the company nearly 1% lower in premarket trading Monday.

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Shares of daily deals site Groupon edged up less than 1% Monday, after closing at $26.11 Friday -- roughly 31% above their initial offering price in the stock's public debut that morning.

Currencies and commodities: The dollar rose against the euro, but fell versus the British pound and the Japanese yen.

Oil for December delivery edged up 41 cents to $94.67 a barrel.

Gold futures for December delivery added $22.90 to $1,779 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 2.05% from 2.10% late Friday.