Small-Caps Get Whacked
MARKET SUMMARY
U.S. markets settled to the downside on Tuesday with the Dow dipping 0.5% following its run to record highs on Monday. The Nasdaq cleared 6,800 intraday but slipped another 0.2% after trying to bounce back from several sessions of under performance. The S&P 500 traded in a tight right before giving back 0.4% while the Russell 2000 showed the most weakness after tanking 1.3%.
TRADE OF THE DAY
THE SCIENCE OF WINNING - PART 1
ANALYST UPGRADES / DOWNGRADES
McDonald's (MCD) upgraded to Buy from Hold at Jefferies
Snap (SNAP) upgraded to Overweight from Equal Weight at Barclays
United Technologies (UTX) upgraded to Overweight from Neutral at Atlantic Equities
Allegiant Travel (ALGT) downgraded to Neutral from Buy at Buckingham
Madison Square Garden (MSG) downgraded to Equal Weight at Morgan Stanley
Robert Half (RHI) downgraded to Underperform from Neutral at Macquarie
EARNINGS
Wednesday's scheduled earnings include:
American Eagle Outfitters (AEO), Analogic (ALOG), Blue Bird (BLBD), Broadcom (AVGO), Cherokee (CHKE), Fred’s (FRED), Greif (GEF), H&R Block (HRB), IEC Electronics (IEC), Keysight Technology (KEYS), Korn/ Ferry International (KFY), Ollie’s Bargain Outlet (OLLI), Secure Works (SCWX), Tailored Brands (TLRD), Vera Bradley (VRA), Verint Systems (VRNT)
UPCOMING ECONOMIC NEWS
Wednesday's economic reports (EST):
MBA Mortgage Applications - 7:00am
ADP Employment Report - 8:15am
Productivity and Costs - 8:30am
METALS / OIL
Gold closed at $1,264.90 an ounce, down $12.80
Silver settled at $16.07 an ounce, down $0.30
Copper finished at $2.95 a pound, down $0.14
Crude Oil closed at $57.47 a barrel, down $0.89
ARTICLE OF THE DAY
The Power of CALL Options
Call options give the buyer the right, but not the obligation, to purchase an underlying asset...[read more]
Make it a great day!
Todd Mitchell
QUOTE OF THE DAY
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