U.S. markets showed continued momentum on Wednesday with the Dow setting fresh record highs after falling shy during Tuesday’s session. The blue-chips added 0.4% after reaching an intraday peak of 24,941 to remain on track to trip the 25,000 level. The S&P 500 rallied another 0.6% to clear the 2,700 level for the first time ever, after reaching an intraday high of 2,714.
The The Nasdaq gained 0.8% while setting its second-straight all-time high after testing 7,069 ahead of the closing bell. Meanwhile, the Russell 2000 showed the most strength after surging 1.1% and kissing 1,555 while missing its lifetime high by less than five points.
General Mills (GIS) upgraded to Neutral from Underweight at Piper Jaffray
Oracle (ORCL) upgraded to Overweight from Equal Weight at Morgan Stanley
United Technologies (UTX) upgraded to Outperform from Sector Perform at RBC Capital
Charles Schwab (SCHW) downgraded to Market Perform from Outperform at JMP Securities
Harley-Davidson (HOG) downgraded to Underperform from Neutral at Longbow
Pinnacle West (PNW) downgraded to Underperform from Neutral at BofA/Merrill
Thursday's scheduled earnings include:
AngioDynamics (ANGO), Franklin Covey (FC), Lamb Weston Holdings (LW), Monsanto (MON), PriceSmart (PSMT), RPM International (RPM), Sonic (SONC), Walgreens Boots Alliance (WBA)
Thursday's economic reports (EST):
Challenger Job-Cut Report - 7:30am
ADP Employment Report - 8:15am
Jobless Claims - 8:30am
Bloomberg Consumer Comfort Index - 9:45am
PMI Services Index - 9:45am
Gold closed at $1,318.50 an ounce, up $2.40
Silver settled at $17.27 an ounce, up $0.06
Copper finished at $3.26 a pound, down $0.02
Crude Oil closed at $61.94 a barrel, up $1.57
Bitcoin Investment Trust (GBTC) settled at $2,255.00, down $6.50
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