US stocks are still having a difficult time finding momentum. The clouds of the European debt crisis still hang over the marketplace; largely offsetting optimism over a steady stream of improving global economic data. The NASDAQ and S&P managed to finish in the green yesterday, but the Dow fell 11 points to the downside.

Stocks stayed in a tight trading range, even after initial jobless claims fell to 375,750, the lowest since June 2008. So far this week, data has showed that the private sector added 170,000 jobs, and correction spending was higher than expected, and manufacturing was in line with expectations. None of it, however, has been enough to offset uncertainty in the long term economic view.

Once again, US stock futures point to another flat opening this morning, ahead of US payrolls data.

In a side note, the so-called Baltic Dry Index, which essentially measures economic activity by means of the shipping industry, has now fallen to record lows. The global economy basically boils down to moving goods from one point to another and, as such, this may not be a good sign for the long-term.

Asian stocks finished somewhat mixed overnight. The Nikkei finished lower for a second session, with a loss of about 0.51%. Earnings reports within Japan’s technology sector have been particularly dismal and this is been a considerable drag on sentiment. Elsewhere, the Hang Seng recovered late to finish a few points higher, while the Shanghai Composite pulled off a respectable gain of about 0.77%.

The European markets are modestly higher this morning, as investors await the release of economic data here in the US. The upside ranges from 0.2% in Germany, to about 0.4% in London and Paris.

Updated Euro-zone PMI data confirmed initial reports of modest growth in the private sector. The gauge climbed to 50.4 from 48.3 the prior month. A number above 50 indicates expansion.

Meanwhile, negotiators are hoping to wrap up a deal between Greece and its creditors, which apparently will include a loss of about 70% for private bondholders.