U.S. markets showed continued strength throughout Tuesday’s session but settled below record high peaks after pulling back into the closing bell. The Dow showed the most strength after rising 0.4% and trading to an intraday high of 25,439. The S&P 500 gained 0.1% while trading to an all-time high of 2,759 to extend its win streak to five-straight.
The Nasdaq also rose 0.1% after making a record run to 7,181 to keep its five-session win streak intact. Meanwhile, the Russell 2000 tested a lifetime intraday high north of 1,565 before closing 0.1% lower.
ANALYST UPGRADES / DOWNGRADES
Sunoco (SUN) upgraded to Overweight from Neutral at JPMorgan
Ellie Mae (ELLI) upgraded to Overweight from Equal Weight at Susquehanna
Wells Fargo (WFC) upgraded to Buy from Hold at Sandler O’Neill
AK Steel (AKS) downgraded to Hold from Buy at Jefferies
Fortinet (FTNT) downgraded to Equal Weight from Overweight at Barclays
Barracuda (CUDA) downgraded to Neutral from Outperform at Baird
Wednesday’scheduled earnings include:
Lennar (LEN), MSC Industrial Direct (MSM), Signet Jewelers (SIG), KB Home (KBH), Progress Software (PRGS), Saratoga Investment (SAR)
UPCOMING ECONOMIC NEWS
Wednesday’s economic reports (EST):
MBA Mortgage Applications – 7:00am
Import/ Export Prices – 8:30am
Atlanta Fed Business Inflation Expectations – 10:00am
Wholesale Trade – 10:00am
METALS / OIL
Gold closed at $1,313.70 an ounce, down $6.70
Silver settled at $17.01 an ounce, down $0.13
Copper finished at $3.21 a pound, down $0.01
Crude Oil closed at $63.49 a barrel, up $0.53
Bitcoin Investment Trust (GBTC) settled at $2,160.00, down $44.73
Make it a great day!