Dow Closes at Another Record High
MARKET SUMMARY
U.S. markets opened higher and showed some momentum throughout Thursday’s session, while holding onto slight gains into the closing bell. The Russell 2000 showed the most strength after rising just over 0.3% to remain within 1% of its record high. The Dow fell shy of its all-time high by 37 points, but notched its 71st record close of the year after gaining 0.3%.
The S&P 500 added 0.2% and came within 7 points of a fresh lifetime high. Meanwhile, the Nasdaq showed some morning weakness after the open, but managed to clear near-term resistance after also rising 0.2%.
TRADE OF THE DAY
TIMING IS EVERYTHING
ANALYST UPGRADES / DOWNGRADES
Argo Group (AGII) upgraded to Outperform from Market Perform at Keefe
BruyetteRoyal Gold (RGLD) downgraded to Hold from Buy at Canaccord
Starbucks (SBUX) initiated with a Buy at Tigress Financial
Sonoma Pharmaceuticals (SNOA) initiated with a Speculative Buy at Benchmark
CommerceHub (CHUBA) initiated with an Outperform at Northland
EARNINGS
Friday's scheduled earnings include:
Applied DNA Sciences (APDN)
eHi Car Services (EHIC)
Gee Group (JOB)
RCI Hospitality (RICK)
UPCOMING ECONOMIC NEWS
Friday's economic reports (EST):
Baker-Hughes Rig Count - 1:00pm
METALS / OIL
Gold closed at $1,297.20 an ounce, up $5.80
Silver settled at $16.92 an ounce, up $0.16
Copper finished at $3.31 a pound, up $0.03
Crude Oil closed at $59.59 a barrel, down $0.38
Bitcoin Investment Trust (GBTC) settled at $1,937.00, down $213.00
ARTICLE OF THE DAY
Bear Call Spreads
Let me discuss what bear call spreads are since this might be the perfect time to start utilizing them...
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Make it a great holiday!
Todd Mitchell
QUOTE OF THE DAY
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