U.S. stocks were set for a mixed open Tuesday, following a broad retreat in the previous session, as oil prices eased.
Investors are keeping a close eye on developments out of Libya and oil prices, which have surged lately. Earlier this morning, oil fell after reports said Moammar Gadhafi is trying to strike a deal with opposition leaders to step down and flee the country safely.
Meanwhile, gold prices rose $1.70 to $1,436.20 an ounce. Gold settled at a fresh record high of $1,434.50 an ounce Monday, as investors sought safety in the precious metal.
With no economic data on the agenda, investors are likely to remain focused on geopolitical developments and oil prices.
Companies: Urban Outfitters (URBN) shares fell 12% in pre-market trading, after the retailer reported profit that widely missed forecasts, saying its margins were hit by increased markdowns.
Starbucks (SBUX) begins rolling out its new logo Tuesday, as the coffee company celebrates its 40th anniversary this week. Starbucks shares were unchanged in premarket trading.
Morgan Stanley (MS) is considering dropping the Smith Barney name from its brokerage business, according to sources cited in the Wall Street Journal.
Boston Beer (SAM), the maker of Samuel Adams beer, and retailer J. Crew (JCRW) are scheduled to release quarterly results after the closing bell.
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