Bulls Get Weekly Win Despite Volatility
MARKET SUMMARY
U.S. markets closed lower on Friday after recovering steep losses midday while managing to close the week higher. The Dow has its best week of the year after surging 2.9% but giving back 0.2% to snap a 5-session win streak. The S&P 500 also slipped 0.2% while adding 1.5% for the week, its biggest weekly gain since September.
The Nasdaq stumbled 0.4% to extend its weekly loss to 0.6% while closing below the 6,900 level for the 3rd-straight session. The Russell 2000 fell 0.5% but jumped 1.2% for the week and is just 1% below last Thursday’s all-time high.
TRADE OF THE DAY
THE WINNING TRADER'S MINDSET - PART 3
ANALYST UPGRADES / DOWNGRADES
Agco (AGCO) upgraded to Conviction Buy from Neutral at Goldman Sachs
Mellanox (MLNX) upgraded to Buy from Neutral at Longbow
Vantiv (VNTV) upgraded to Outperform from Neutral at Wedbush
Priceline (PCLN) downgraded to Hold from Buy at Argus
Regeneron (REGN) downgraded to Neutral from Buy at Citi
VMware (VMW) was downgraded to Hold from Buy at Gabelli
EARNINGS
Monday's scheduled earnings include:
Ascena Retail Group (ASNA), Coupa Software (COUP), GW Pharmaceuticals (GWPH)
UPCOMING ECONOMIC NEWS
Monday's economic reports (EST):
Factory Orders - 10:00am
TD Ameritrade IMX- 12:30pm
METALS / OIL
Gold closed at $1,282.30 an ounce, up $5.60
Silver settled at $16.39 an ounce, down $0.09
Copper finished at $3.09 a pound, up $0.03
Crude Oil closed at $57.17 a barrel, down $0.19
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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