Bears Snap Bull's Winning Streaks

MARKET SUMMARY

U.S. markets were weak throughout Friday with the Dow and S&P 500 finishing in the red for the second-straight session. Both indexes ended the week lower for the first time in 9 weeks. The Nasdaq held near-term support before making a late day run into positive territory by nearly a point but had its 6-week winning streak snapped. The Russell 2000 also closed slightly higher by a quarter-point but finished the week with nearly a 2% loss while holding its 50-day moving average.

TRADE OF THE DAY!
THE OPINION TRAP
ANALYST UPGRADES / DOWNGRADES

CVS Health (CVS) upgraded to Buy from Hold at Needham
Hyatt (H) upgraded to Buy from Hold at Berenberg
Kohl's (KSS) upgraded to Outperform from Neutral at Baird

Marathon Oil (MRO) downgraded to Neutral from Buy at Citi
MetLife (MET) downgraded to Hold from Buy at Sandler O'Neill
Johnson Controls (JCI) downgraded to Hold from Buy at Vertical Research

EARNINGS

Monday's scheduled earnings include:

Famous Daves of America (DAVE), JD.com (JD), Luna Innovations (LUNA), Switch (SWCH), Tyson Foods (TSN), WideOpenWest (WOW)

UPCOMING ECONOMIC NEWS

Monday’s economic reports (EST):

4-Week Bill Announcement - 11:00am
3-month and 6-month Bill Auction - 11:30am
Treasury Budget - 2:00pm

METALS / OIL

Gold closed at $1,274.30 an ounce, down $13.30

Silver settled at $16.87 an ounce, down $0.11

Copper finished at $3.08 a pound, down $0.01

Brent Crude Oil closed at $63.60 a barrel, down $0.25

ARTICLE OF THE DAY
Bear Call Spreads

A bear put spread is a debit spread created by purchasing higher strike puts and selling lower strike puts with the same expiration dates...[read more]

Make it a great day!

Todd Mitchell

QUOTE OF THE DAY

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