Dow Holds Its High Level

U.S. markets took a breather on Thursday as the major indexes closed in negative territory on less volatility and ahead of January option expiration tomorrow. The event could cause a return of volatility to slightly elevated levels along with the results of a couple of major blue-chip companies earnings that were reported after today’s close.

The Dow slipped 0.4% but managed to trade to a fresh all-time high of 26,153 before pulling back, while holding the 26,000 level for the second-straight session. The S&P 500 dipped 0.2% after making a run to 2,805 but failed a fresh record high by two points.

The Nasdaq dropped 0.02% after failing its all-time high by 17 points while closing back below the 7,300 level. The Russell 2000 kissed 1,586 on the open but failed to take out Wednesday’s peak and resistance at 1,600 after sliding 0.6%.

ANALYST UPGRADES / DOWNGRADES (ALRM) upgraded to Buy from Hold at Jefferies
Fluor (FLR) upgraded to Outperform from Neutral at Credit Suisse
Walmart (WMT) upgraded to Conviction Buy from Neutral at Goldman Sachs

Symantec (SYMC) downgraded to Underperform from Hold at Jefferies
Comcast (CMCSAWealth Strength IndexAAPL is Extremely Up and trending Up) downgraded to Neutral from Buy at Nomura Instinet
Chevron (CVX) downgraded to Hold from Buy at HSBC
Friday’s scheduled earnings:
Citizens Financial Group (CFG), Kansas City Southern (KSU), Schlumberger (SLB), SunTrust Banks (STI)

Friday’s economic reports (EST):
Consumer Sentiment – 10:00am
Baker-Hughes Rig Count – 1:00pm

Gold closed at $1,327.00 an ounce, down $12.00
Silver settled at $16.92 an ounce, down $0.21
Copper finished at $3.19 a pound, up $0.01
Crude Oil closed at $63.72 a barrel, down $0.25
Bitcoin Investment Trust (GBTC) settled at $1,837.00, up $221.00

Make it a great day!