U.S. markets continued record run into blue-sky territory on Wednesday’s open but settled mostly lower after setting fresh intraday all-time highs.
The Dow closed in the green for the 3rd time over the past four sessions after rising 0.2% and trading to an intraday all-time peak of 26,392. The S&P 500 made a record run to 2,852 before slipping 0.1% into the closing bell to snap a three-session winning streak.
The Nasdaq gave back 0.6% after peaking at 7,486 but was able to hold the 7,400 into the close after falling below this level intraday. The Russell 2000 dropped 0.7% after tapping a record high of 1,615 before closing back below the 1,600 level.
ANALYST UPGRADES / DOWNGRADES
Cree (CREE) upgraded to Hold from Sell at Williams Capital
3M (MMM) upgraded to Buy from Neutral at Hilliard Lyons
Energen (EGN) upgraded to Overweight from Equal Weight at Morgan Stanley
United Continental (UAL) downgraded to In Line from Outperform at Evercore ISI
Huntington Bancshares (HBAN) was downgraded to Neutral from Buy at Hilliard Lyons
Range Resources (RRC) downgraded to Underweight from Equal Weight at Morgan Stanley
Thursday’s scheduled earnings include:
Before the open: 3M (MMM), Alaska Air Group (ALK), American Airlines Group (AALWealth Strength IndexAAL is Extremely Flat and trending Up), Avnet (AVT), Biogen (BIIBWealth Strength IndexBIIB is Moderately Up and trending Up), Cabot Microelectronics (CCMP), Caterpillar (CAT), Celgene (CELGWealth Strength IndexCELG is Extremely Flat and trending Down), Deluxe (DLX), Freeport McMoRan (FCX), International Speedway (ISCA), JetBlue Airways (JBLU), L3 Communications (LLL), McCormick & Company (MKC), Oshkosh (OSK), Praxair (PX), Raytheon (RTN), Sherwin-Williams (SHW), STMicroelectronics (STM), Union Pacific (UNP)
After the close: Calanese (CE), Datawatch (DWCH), E*Trade Financial (ETFC), Federal Investors (FII), Flex (FLEX), Hilltop Holdings (HTH), Intel (INTCWealth Strength IndexINTC is Moderately Flat and trending Up), K12 (LRN), KLA-Tencor (KLACWealth Strength IndexKLAC is Moderately Flat and trending Up), Microsemi (MSCC), Quality Systems (QSII), Starbucks (SBUXWealth Strength IndexSBUX is Moderately Up and trending Up), Western Digital (WDCWealth Strength IndexWDC is Extremely Flat and trending Up)
UPCOMING ECONOMIC NEWS
Thursday’s economic reports (EST):
Jobless Claims – 8:30am
Bloomberg Consumer Comfort Index – 9:45am
New Home Sales – 10:00am
Leading Indicators – 10:00am
Kansas City Fed Manufacturing Index – 11:00am
METALS / OIL
Gold closed at $1,356.30 an ounce, up $19.60
Silver settled at $17.49 an ounce, up $0.58
Copper finished at $3.23 a pound, up $0.12
Crude Oil closed at $65.88 a barrel, up $1.41
Bitcoin Investment Trust (GBTC) settled at $1,670.05, up $17.40
Make it a great day!