Small-Caps Hold 50-Day MA

MARKET SUMMARY

U.S. markets closed with slight gains on Wednesday following a weak open and a tight trading range throughout the session. The major indexes failed to trip new all-time highs although the Dow was able to stretch its winning streak to 8-straight sessions. The S&P 500 made another run at the 2,600 level while the Nasdaq continues to seek 6,800. The Russell 2000 was underwater for much of the session with the 50-day moving average holding before rebounding into the closing bell.

TRADE OF THE DAY!
THE SCIENCE OF WINNING - PART 5
ANALYST UPGRADES / DOWNGRADES

Andersons (ANDE) downgraded to Neutral from Buy at Buckingham
Scotts Miracle-Gro (SMG) downgraded to Neutral from Overweight at JPMorgan
Townsquare Media (TSQ) downgraded to Equal Weight from Overweight at Stephens

Hain Celestial (HAIN) upgraded to Outperform from Market Perform at Bernstein
Take-Two (TTWO) upgraded to Outperform from Neutral at Baird
Welltower (HCN) upgraded to Overweight from Equalweight at Capital One

EARNINGS

Thursday's scheduled earnings include:

AstraZenca (AZN), Brooks Automation (BRKS), Canada Goose Holdings (GOOS), Canadian Solar (CSIQ), Camping World (CWH), DineEquity (DIN), Dish Network (DISH), Fly Leasing (FLY), Hertz (HTZ), Himax Holdings (HIMX), Johnson Controls (JCN), Kohl’s (KSS), Macy’s (M), Noodles & Company (NDLS), Nvidia (NVDA), Party City (PRTY), QVC Group (QVCA), Time (TIME), Trade Desk (TTD), Vista Outdoor (VSTO), Walt Disney (DIS)

UPCOMING ECONOMIC NEWS

Thursday’s economic reports (EST):

Jobless Claims - 8:30pm
Bloomberg Consumer Comfort Index - 9:45am
Wholesale Trade - 10:00am
Fed Balance Sheet - 4:30pm
Money Supply - 4:30pm

METALS / OIL

Gold closed at $1,283.70 an ounce, up $7.90

Silver settled at $17.14 an ounce, up $0.20

Copper finished at $3.10 a pound, up $0.01

Brent Crude Oil closed at $63.69 a barrel, down $0.42

ARTICLE OF THE DAY
What's a Covered Put?

In a covered put strategy, you are selling the underlying stock and selling a put option against it. [read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

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