Markets look for direction

U.S. markets are mixed this morning. The S&P 500 is up 0.18% and the Dow is down 0.16%. There were 284,00 initial unemployment claims last week, considerably better than expected.

Positive manufacturing numbers from China led Asian stocks mostly higher Thursday. Hong Kong stocks reached their highest level in 3 years. The Hang Seng was up 0.71% while the Shanghai SE Composite was up 1.28%.

In Europe, markets are up today as Euro-zone purchasing managers’ indexes indicated a strong start for the third quarter. The FTSE is up 0.14%, and the German DAX is up 0.45%.

Energy futures are mixed today. The West Texas Intermediate crude oil price per barrel is $102.92, down $0.20 and natural gas up $0.02. Metals prices are mostly down this morning. Gold is down $6.60, and platinum is down $8.40. The Dollar is up versus the Euro and the Yen.

Logitech International (LOGI), Qr Energy (QRE), Facebook(FB),and Skechers Usa (SKX), are up today. Tripadvisor (TRIP), Mcgraw Hill Financial (MHFI), Pharmacyclics (PCYC)and Dunkin Brands Group (DNKN) are down. 

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..

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