Stocks seek direction for the new week

U.S. stocks begin the week barely moving from last week’s close.  The S&P 500 is down 0.15% and the Dow has dropped 0.05%. Pending Home Sales data for September will be released at 10:00 a.m.  today.

Asian stocks were mixed Monday after a program to allow more foreign investment to mainland China was delayed. The Nikkei rose 0.63% while the Hang Seng fell 0.68%.

European markets are lower today as data showed German business confidence sagging. The FTSE is down 0.14%, and the DAX has dropped 0.44%. 

Energy futures are lower Monday. The price for West Texas Intermediate crude oil is $80.55 per barrel, down $0.46 and natural gas is down $0.03. Metals prices are mixed this morning. Gold is up $1.10 and platinum is down $4.40. The Dollar is down versus both the Euro and the Yen.

Novavax, Inc. (NVAX), VeriFone Systems, Inc. (PAY) and EMC Corporation (EMC), are rising, while Petrobras (PBR), Telefonica Brasil (VIV) and Lululemon Athletica Inc. (LULU) 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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