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Averages search for direction as earnings take center-stage

Stock futures began the pre-market session below fair value but began to pare their losses following the release of the better than expected earnings report from Bank of America (BAC). The futures made it back to fair value, which led to an uneventful open for the broader market. The market is coming off of its second consecutive week of losses and the S&P has alternated between gains and losses for the past seven sessions. In early trading the averages slipped, but they have returned to the flat line and are searching for direction in morning trading. The Dow is currently down 9 points, the Nasdaq is down 3 points and the S&P is down 2 points.


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