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U.S. stocks look for direction

U.S. stocks are flat at the start as oil prices slip back after recent gains. The S&P 500 is up 0.07%, while the Dow is up 0.02%.

Asian stocks finished mixed Tuesday as investors there largely shrug off Italian voters’ rejection of constitutional changes. The Shanghai was down 0.16% and the Nikkei was up 0.47%.

In Europe, markets are higher as banking shares show strength. The FTSE is up 0.17%, and the DAX is up 0.17%.

Energy futures are mixed this morning. The price for West Texas Intermediate crude oil is down $1.00 to $50.79 per barrel, while natural gas is up $0.04 to $3.70. Metals prices are mixed. Gold is down $2.70 to $1,173.80 per ounce and platinum is up 9.20 to $947.90. The Dollar is up  versus the Euro and the Yen.

IntraLinks Holdings, Inc. (IL),Sage Therapeutics, Inc. (SAGE),and Depomed, Inc.     (DEPO) are early risers, while Lexicon Pharmaceuticals, Inc. (LXRX),Stone Energy Corporation (SGY),and The Michaels Companies, Inc. (MIK) are down. [InvestorsKeyhole, various news and data sources]

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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.