Stocks Try to Recover from Sharp Drop

Futures are trying to bounce this morning as political worries hammer stocks across the Atlantic.

Sentiment has been improving in the last hour, and the S&P 500 is indicated to open higher by about one-third of a percentage point after a drop of almost 2 percent yesterday. Indexes are lower by 1 percent to 2 percent in Europe and fell by a similar magnitude in Asia overnight.

Sentiment darkened yesterday after Italian elections produced no clear winner, casting doubts about the debt-laden country’s ability to make key reforms. The news comes as stocks consolidate following an early-2013 rally that brought the S&P 500 back to its highest levels in more than five years.

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