Cryptocurrency opportunity - last chance!
Bulls Continue January Surge
MARKET SUMMARY
U.S. markets closed higher for the 4th-straight week following Friday’s continued run at record all-time highs.The Nasdaq jumped 1.3% to close at a lifetime high of 7,505 and was up 2.3% for the week. The S&P 500 soared 1.2% to finish at 2,872 and another record high following a weekly gain of 2.2%.
The Russell 2000 added 0.4% after closing at 1,608 and shy of its all-time high of 1,615. For the week, the small-caps were up 0.7%. The Dow gained 0.9% after settling at an all-time high of 26,616 while closing the week 2.1% higher.
Health Care surged 2.2% while Technology soared 1.6% to led sector strength. Health Care was up 3.5%; Consumer Discretionary added 3.2%; and Real Estate gained 2.3% for the week. There were no sector laggards on Friday, or for the week, as all sectors closed higher.
TRADE OF THE DAY
FEAR OF HEIGHTS
ANALYST UPGRADES / DOWNGRADES
Gilead (GILD) upgraded to Buy from Hold at Jefferies
Jack in the Box (JACK) upgraded to Outperform from Neutral at Wedbush
Travelers (TRV) upgraded to Neutral from Underweight at Atlantic Equities
Bed Bath & Beyond (BBBY) downgraded to Underweight from Neutral at JPMorgan
Fortinet (FTNT) downgraded to Market Perform on valuation at Raymond James
Whirlpool (WHR) downgraded to Sector Weight from Overweight at KeyBanc
EARNINGS
Monday's scheduled earnings include:
Adient (ADNT), Changyou.com (CYOU), Ashland (ASH), Covenant Transportation (CVTI), Crane (CR), Dominion Energy (D), Financial Institutions (FISI), Graco (GGG), Hawaiian Holdings (HA), Integrated Device Technology (IDTI), J&J Snack Foods (JJSF), Lockheed Martin (LMT), Potlatch (PCH), Rambus (RMBS), Transcat (TRNS), Seagate Technologies (STX), Sohu.com (SOHU), Veritex Holdings (VBTX), Werner Enterprises (WERN)
UPCOMING ECONOMIC NEWS
Monday's economic reports (EST):
Personal Income and Outlays - 8:30am
Dallas Fed Manufacturing Survey - 10:30am
METALS / OIL
Gold closed at $1,352.10 an ounce, down $10.80
Silver settled at $17.44 an ounce, down $0.17
Copper finished at $3.20 a pound, down $0.02
Crude Oil closed at $66.24 a barrel, up $0.73
Bitcoin Investment Trust (GBTC) settled at $1,645.00, down $40.00
ARTICLE OF THE DAY
Bear Call Spreads
Discover the what, when and how of bear call spreads... [read more]
Make it a great day!
Todd Mitchell
QUOTE OF THE DAY
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