Nasdaq up 4-Straight

MARKET SUMMARY

U.S. markets traded mostly higher ahead of this week’s central bank decision from the Federal Reserve along with overseas outcomes also expected from the Bank of England and the European Central Bank. The Dow and S&P 500 failed at clearing all-time peaks but did set new closing highs after rising 0.3% and 0.2%, respectively.

The Nasdaq showed the most strength after gaining 0.5% to extend its winning streak to four-straight. Meanwhile, the Russell 2000 opened higher but struggled holding positive territory throughout the session before closing 2 points lower, or 0.1%.

TRADE OF THE DAY

 

ANALYST UPGRADES / DOWNGRADES

U.S. Steel (X) upgraded to Hold from Sell at Axiom
First Solar (FSLR) upgraded to Outperform from Neutral at Baird
Waste Management (WM) upgraded to Buy from Hold at Stifel

Brixmor (BRX) downgraded to Neutral from Buy at Mizuho
Kimberly-Clark (KMB) downgraded to Sell from Neutral at Citi
TSYS (TSS) downgraded to Neutral from Buy at Goldman Sachs

EARNINGS

Tuesday’s scheduled earnings include:
Arrowhead Research Group (ARWR), Civitas Solutions (CIVI), MongoDB (MDB), RMR Group (RMR), Streamline Health Solutions (STRM), VeriFone Holdings (PAY)

UPCOMING ECONOMIC NEWS

Tuesday’s economic reports (EST):
NFIB Small Business Optimism Index – 6:00am
PPI – 8:30am
Redbook – 8:55am
Treasury Budget – 2:00pm

METALS / OIL

Gold closed at $1,246.90 an ounce, down $1.50

Silver settled at $15.78 an ounce, down $0.04

Copper finished at $3.01 a pound, up $0.03

Crude Oil closed at $58.01 a barrel, up $0.65

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY