- S&P 500 Futures +8 points
- 10-Year Treasury 2.50%
- Oil $64.42
- VIX 13.92
- Dollar Index 96.94
- China Shanghai +0.07%
- Hong Kong HSI -0.13%
- Japan Nikkei -0.54%
- South Korea KOSPI +0.49%
- UK FTSE +0.08%
- German DAX +0.43%
- Copper $2.93
- Platinum $895.80
- Silver $15.21
- Semis 1464.50
South Korea had a nice move higher after a slow start. The index is now knocking on the door of a big break out should it rise above 2,225. It may result in a rise towards 2,360.
S&P 500 (SPY)
S&P 500 futures are pointing to a higher opening with resistance taking shape around 2,891 if we can clear that resistance level, the index finally has a path towards 2,915.
Disney was upgraded to outperform from market perform at BMO with a $140 price target. Tomorrow is the companies big investor day ahead of the details surrounding the launch of their Disney + streaming service. The company is on the verge of a big return to growth, and perhaps the stock begins to reflect this. The stock may prove to be an incredible bargain trading at 16.4 times next’s year earnings estimates.
Gilead was upgraded today to buy from neutral at UBS, with a $77 target. This stock has done nothing but have declining revenues for years. If there is a place to upgrade a stock, this would be it for Gilead since it is trading at nearly its lowest point in some time.
Apple was downgraded at HSBC to reduce from hold, with a $180 price target. The stock is trading lower this morning after its mid-day turn around yesterday. $194 is support for the stock in the near-term.
AMD’s price target was increased at Cowen to $33 from $28. The stock may have a bit further to fall first as the gap gets filled around $26.75.
This article first appeared on Mott Capital.
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