Dow Closes Slightly Lower

MARKET SUMMARY

U.S. markets closed mostly higher for the fifth-straight session to push continued all-time and fresh closing highs as the start of 4Q earnings season gets underway. The Dow, however, was slightly choppy throughout the session after peaking at 25,311 intraday before closing lower by 0.05%, or 13 points. The Nasdaq showed the most strength after rising 0.3% while tapping 7,161 and ending 4 points off its record high.

The S&P 500 was weak throughout the first half of trading before gaining 0.2% after kissing 2,748 ahead of the closing bell. The Russell 2000 also added 0.2%, or 2 points, after reaching an intraday high just shy of 1,563.

TRADE OF THE DAY

THE SCIENCE OF WINNING - PART 1
ANALYST UPGRADES / DOWNGRADES 

CCaterpillar (CAT) upgraded to Overweight from Neutral at JPMorgan
Applied Materials (AMAT) upgraded to Strong Buy from Buy at Needham
Western Union (WU) upgraded to Neutral from Negative at Susquehanna

Snap (SNAP) downgraded to Hold from Buy at Jefferies
Pandora (P) downgraded to Equal Weight from Overweight at Morgan Stanley
GrubHub (GRUB) downgraded to Neutral from Outperform at Wedbush

EARNINGS

Tuesday'scheduled earnings include: 
Acuity Brands (AYI), Exfo (EXFO), Schnitzer Steel (SCHN), Simply Goods Foods (SMPL), Simulations Plus (SLP), Synnex (SNX), Voxx International (VOXX), WD-40 (WDFC)

UPCOMING ECONOMIC NEWS

Tuesday's economic reports (EST): 

NFIB Small Business Optimism Index - 6:30am
Redbook - 8:55am
JOLTS - 10:00am

METALS / OIL

Gold closed at $1,320.90 an ounce, down $1.90

Silver settled at $17.14 an ounce, down $0.14

Copper finished at $3.22 a pound, down $0.01

Crude Oil closed at $61.46 a barrel, down $0.13
Bitcoin Investment Trust (GBTC)
settled at $2,337.88, down $133.15

ARTICLE OF THE DAY
A Quick Review of Call Options

Call options give the buyer the right, but not the obligation, to purchase an underlying asset.....[ read more]


Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

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