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Markets look for direction to start November

After a strong close of October, U.S. markets are slipping down slightly on the first trading day of November. The S&P 500 is down 0.15% and the Dow has dropped 0.19%.

On Monday, Asian markets were mixed after low Chinese manufacturing data. The Nikkei jumped 4.83% while the Hang Seng fell 0.34%.

European markets are down this morning after uninspiring eurozone manufacturing reports. The FTSE is down 0.53%, and the DAX is down 0.52%.

Energy futures are climbing today. The price for West Texas Intermediate crude oil is $80.92 per barrel, up $0.38 and natural gas is up $0.18. Metals prices are rising. Gold is up $1.40 and platinum is up $4.80. The Dollar is up versus both the Euro and the Yen.

AngloGold Ashanti Ltd (AU), Covance Inc. (CVD) and FedEx Corporation (FDX), are rising, while American Realty Capital Properties, Inc.(ARCP), Sears Holdings Corporation (SHLD) and Novo Nordisk (NVO) are down. [InvestorsKeyhole, various news and data sources]

Michael Haden

Michael Haden is an Options Analyst at InvestorsObserver. He graduated from James Madison University in 1986 with a degree in Marketing. In two decades with Standard & Poor’s, Michael honed his analytical skills in the Financial Industry. He has a conservative view toward investing and prefers value stocks to high-fliers with big risk.