Dow Down 5-Straight
MARKET SUMMARY
U.S. markets continued their recent pattern of showing strength on the open and weakness afterwards to close Wednesday’s session mixed. The Nasdaq gained 0.2% to snap a three-session slide while the S&P 500 slipped a third-point, or 0.01%. The Dow declined 0.2% while closing in the red for the fifth-straight session. The Russell 2000 extended its losing streak to four-straight after sinking another 1.5% while holding the 1,500 level.
TRADE OF THE DAY
THE SCIENCE OF WINNING - PART 2
ANALYST UPGRADES / DOWNGRADES
Carnival (CCL) upgraded to Equal Weight from Underweight at Morgan Stanley
Express Scripts (ESRX) upgraded to Market Perform from Underperform at Bernstein
L3 Technologies (LLL) upgraded to Outperform from Sector Perform at RBC Capital
AutoZone (AZO) downgraded to Neutral from Buy at Guggenheim
Chemours (CC) downgraded to Neutral from Buy at Goldman Sachs
Toll Brothers (TOL) downgraded to Sector Weight from Overweight at KeyBanc
EARNINGS
Thursday's scheduled earnings include:
American Outdoor Brands (AOBC), Cantel Medical (CMD), Ciena (CIEN), Copper Companies (COO), Duluth Holdings (DLTH), Finisar (FNSR), GMS (GMS), JinkoSolar Holdings (JKS), Liberty Tax (TAX), Methode Electronics (MEI), Peak Resorts (SKIS), Toro (TTC), Science Applications (SAIC), United Natural Foods (UNFI), Vail Resorts (MTN)
UPCOMING ECONOMIC NEWS
Thursday's economic reports (EST):
Challenger Job-Cut Report - 7:00am
Jobless Claims - 8:30am
Bloomberg Consumer Comfort Index - 9:45am
Quarterly Services Survey - 10:00am
Consumer Credit - 3:00pm
METALS / OIL
Gold closed at $1,266.10 an ounce, up $1.20
Silver settled at $15.95 an ounce, down $0.12
Copper finished at $2.96 a pound, up $0.01
Crude Oil closed at $55.93 a barrel, down $2.43
ARTICLE OF THE DAY
Why It's Good to Use Algorithms In Your Trading
No longer do trading floors belong to adrenaline-fueled dealers aggressively executing orders from brokers who relied on research, experience and gut instinct to invest...[read more]
Make it a great day!
Todd Mitchell
QUOTE OF THE DAY
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