Stock futures trade in tight range ahead of open

[May 17, 2010]  NEW YORK (AP) -- Stock futures are trading in a narrow range as investors remain cautious about the health of Europe's economy.

The euro, used by 16 countries in Europe, fell to a four-year low Monday, though major European stock indexes rose. Investors are grappling with whether budget cuts in countries like Greece, Spain and Portugal will drag Europe into a recession.

The euro fell to as low as $1.2237, its lowest level since 2006.

Concerns about Europe's economy have overshadowed signs that the U.S. economy continues to improve.

Dow Jones industrial average futures are up 5, or 0.1 percent, at 10,614. Standard & Poor's 500 index futures are up 1.20, or 0.1 percent, at 1,136.50, while Nasdaq 100 index futures are up 1.75, or 0.1 percent, at 1,911.50.

[Associated Press; By STEPHEN BERNARD]

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