Dow Closes Slightly Higher
MARKET SUMMARY
U.S. markets started the week by setting fresh all-time highs, excluding the Russell 2000, while closing mixed to end the session. The Dow reached a record peak just south of 23,639 while holding positive territory. The S&P 500 tapped 2,606 while closing above the 2,600 for the second-straight session after giving back a point. The Nasdaq came with 3 points of clearing the 6,900 level but had its 4-session winning streak snapped after closing slightly lower. Meanwhile, the Russell 2000 opened higher but failed its all-time high by 2 points after stalling at 1,522 and finishing slightly in the red with a 0.4% loss.
TRADE OF THE DAY
TIMING IS EVERYTHING
ANALYST UPGRADES / DOWNGRADES
Ciena (CIEN) upgraded to Buy from Neutral at BofA/Merrill
Lowe's (LOW) upgraded to Outperform from Market Perform at Raymond James
GlaxoSmithKline (GSK) upgraded to Buy from Neutral at UBS
Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at UBS
Square (SQ) downgraded to Sell from Neutral at BTIG
Western Digital (WDC) downgraded to Equal Weight from Overweight at Morgan Stanley
EARNINGS
Tuesday's scheduled earnings include:
Atkore International Group (ATKR), Bazaarvoice (BV), Oaktree Speciality Lending (OCSL), Photronics (PLAB), Royal Bank of Canada (RY), Tiffany & Company (TIF)
UPCOMING ECONOMIC NEWS
Tuesday's economic reports (EST):
International Trade in Goods - 8:30am
Redbook - 8:55am
FHFS House Price Index - 9:00am
S&P Corelogic Case-Shiller - 9:00am
Consumer Confidence - 10:00am
Richmond Fed Manufacturing Index - 10:00am
State Street Investor Confidence Index - 10:00am
Gallop US ECI - 2:00pm
METALS / OIL
Gold closed at $1,294.40 an ounce, up $7.10
Silver settled at $17.02 an ounce, up $0.03
Copper finished at $3.13 a pound, down $0.04
Crude Oil closed at $57.88 a barrel, down $1.07
ARTICLE OF THE DAY
Exiting an Option Position
Once you own options, there are three methods that can be used to make a profit or avoid loss... [read more]
Make it a great day!
Todd Mitchell
QUOTE OF THE DAY
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