Bulls Continue Record Run
MARKET SUMMARY
U.S. markets continued their flight towards fresh all-times highs but settled mixed ahead of Wednesday’s Fed decision on interest rates. The Dow and S&P 500 climbed 0.5% and 0.2%, respectively, with both indexes extending their winning streaks to four-straight. The Nasdaq slipped 0.2% after failing near-term resistance to snap its four-session win streak. Meanwhile, the Russell 2000 traded showed strength in the first half of trading before weakening while closing lower by 0.2%.
TRADE OF THE DAY
THE SCIENCE OF WINNING - PART 6
ANALYST UPGRADES / DOWNGRADES
Activision Blizzard (ATVI) upgraded to Buy from Neutral at Goldman Sachs
Northrop Grumman (NOC) upgraded to Overweight from Neutral at JPMorgan
Verizon (VZ) upgraded to Buy from Neutral at Nomura
Electronic Arts (EA) downgraded to Buy from Conviction Buy at Goldman Sachs
General Dynamics (GD) downgraded to Underweight from Neutral at JPMorgan
Spark Therapeutics (ONCE) downgraded to Neutral from Buy at UBS
EARNINGS
Wednesday's scheduled earnings include:
ABM Industries (ABM), Aspen Group (ASPU), Nordson (NDSN), Pier 1 Imports (PIR), Tintri (TNTR)
UPCOMING ECONOMIC NEWS
Wednesday's economic reports (EST):
MBA Mortgage Applications - 7:00am
Consumer Price Index - 8:30am
FOMC Minutes - 2:00pm
METALS / OIL
Gold closed at $1,241.70 an ounce, down $5.20
Silver settled at $15.67 an ounce, down $0.11
Copper finished at $3.02 a pound, up $0.01
Crude Oil closed at $57.26 a barrel, down $0.73
ARTICLE OF THE DAY
What Affects Equity Option Prices?
Option pricing is based on a variety of factors...[read more]
Make it a great day!
Todd Mitchell
QUOTE OF THE DAY
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