Dow Clears 24,000
MARKET SUMMARY
U.S. markets returned to record highs following some solid economic numbers and additional support on the Senate tax reform bill. The Dow reached an all-time high of 24,327 after zooming 1.4% while the S&P 500 tapped a lifetime peak of 2,657 after rising 0.8%. Both indexes extending their monthly winning streak to 8-straight.
The Russell 2000 made a record run to 1,551 before slipping into negative territory by a point ahead of the closing bell. The index held a 2-point gain, or 0.1%, but worth noting as the small-caps will likely lead the action on a tax vote possibly tonight or ahead of Friday’s market close. Meanwhile, the Nasdaq recovered half of its prior session losses after jumping 0.7% but failed the 6,900 level.
TRADE OF THE DAY
THE WINNING TRADER'S MINDSET - PART 2
ANALYST UPGRADES / DOWNGRADES
Boston Scientific (BSX) upgraded to Buy from Neutral at BTIG
Canadian National (CNI) upgraded to Buy on valuation at TD Securities
HCA Healthcare (HCA) upgraded to Overweight from Neutral at JPMorgan
Dentsply Sirona (XRAY) downgraded to Neutral from Buy at H.C. Wainwright
Fibria Celulose (FBR) downgraded to Hold from Buy at Santander
Mizuho Financial (MFG) downgraded to Equal Weight from Overweight at Morgan Stanley
EARNINGS
Friday's scheduled earnings include:
American Woodmark (AMWD), Big Lots (BIG), Genesco (GCO)
UPCOMING ECONOMIC NEWS
Friday's economic reports (EST):
PMI Manufacturing Index - 9:45am
ISM Manufacturing Index - 10:00am
Construction Spending - 10:00am
Baker-Hughes Rig Count - 1:00pm
METALS / OIL
Gold closed at $1,276.70 an ounce, down $9.50
Silver settled at $16.47 an ounce, down $0.09
Copper finished at $3.06 a pound, down $0.01
Crude Oil closed at $57.36 a barrel, up $0.06
ARTICLE OF THE DAY
What You Need to Know About Swing Trading
Trading has a few extremes you need to know....[read more]
Make it a great day!
Todd Mitchell
QUOTE OF THE DAY
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