Record Highs Back in Play

MARKET SUMMARY

​U.S. markets returned to their winning ways after rebounding on Thursday to push fresh all-time highs. The Russell 2000 showed the most strength after surging 1.7% while closing on its high of 1,586. The Nasdaq jumped 0.8% after trading past the 7,200 level to close at a record high of 7,211.

The Dow also added 0.8% after tapping an intraday high of 25,575while finishing a point off its intraday high. Meanwhile, the S&P 500 gained 0.7% after making a run to 2,767 and ending at its session high.

TRADE OF THE DAY

ANALYST UPGRADES / DOWNGRADES

American Eagle (AEO) upgraded to Buy from Neutral at Buckingham
STMicroelectronics (STM) upgraded to Outperform from Neutral at Credit Suisse
VMware (VMW) upgraded to Outperform from Market Perform at Cowen

Acuity Brands (AYI) downgraded to Neutral from Buy at Seaport Global
Hawaiian Holdings (HA) downgraded to Hold from Buy at Argus
Tractor Supply (TSCO) downgraded to Neutral from Outperform at Wedbush

EARNINGS

Friday’scheduled earnings include: 

BlackRock (BLK), JPMorgan Chase (JPM), PNC Bank (PNC), Wells Fargo (WFC)

UPCOMING ECONOMIC NEWS

Friday’s economic reports (EST):

Consumer Price Index – 8:30am
Retail Sales – 8:30am
Business Inventories – 10:00am

METALS / OIL

Gold closed at $1,322.50 an ounce, up $3.20

Silver settled at $16.97 an ounce, down $0.06

Copper finished at $3.23 a pound, down $0.01

Crude Oil closed at $63.55 a barrel, down $0.02

Bitcoin Investment Trust (GBTC) settled at $1,708.01, down $252.99


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY