Stock futures point to modestly higher opening

[August 21, 2009]  NEW YORK (AP) -- Stock futures are rising, pointing to a higher open as investors await a speech from Federal Reserve Chairman Ben Bernanke.

Traders will be looking to Bernanke's speech for insight into a potential economic rebound.

A report on existing home sales could also provide direction for investors. Sales have shown signs of life in recent months, raising hopes for a recovery for the overall economy.

The stock market has seesawed throughout the week on mixed economic news. Light summer trading volume could also be affecting the market, skewing gains and losses.

Overseas, European markets rose after mixed trading in Asia.

Dow Jones industrial average futures are up 41, or 0.4 percent, at 9,361. Standard & Poor's 500 index futures are up 5.50, or 0.6 percent, at 1,010.20, while Nasdaq 100 index futures are up 7.00, or 0.4 percent, at 1,621.00.

[Associated Press; By STEPHEN BERNARD]

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