Bulls Hold Near-Term Support

MARKET SUMMARY

U.S. markets traded on both sides of the ledger before closing slightly higher with the Dow and S&P 500 snapping two-session slides. The Nasdaq finished higher for the second-straight session while the Russell 2000 extended its marginal win streak to 3-straight. Although all-time highs are on hold at the moment, the major indexes easily held near-term support on the opening weakness.

TRADE OF THE DAY!
PICKING TOPS AND  BOTTOMS
ANALYST UPGRADES / DOWNGRADES

Delek US (DK) upgraded to Strong Buy from Outperform at Raymond James
Nvidia (NVDA) upgraded to Market Perform from Underperform at BMO Capital
TD Ameritrade (AMTD) upgraded to Buy from Hold at Deutsche Bank

Boston Beer (SAM) downgraded to Neutral from Positive at Susquehanna
Schlumberger (SLB) downgraded to Buy from Conviction Buy at Goldman Sachs
Sequential Brands (SQBG) downgraded to Neutral from Buy at Roth Capital

EARNINGS

Tuesday's scheduled earnings include:

Advance Auto Parts (AAP), Aramark Holdings (AMRK), Beazer Homes (BZH), Dick’s Sporting Goods (DKS), Home Depot (HD), International Game Technology (IGT), ParkerVision (PRKR), Sorl Auto Parts (SORL), Stratasys (SSYS), Sunworks (SUNW), TJX Companies (TJX), Yirendai (YRD)

UPCOMING ECONOMIC NEWS

Tuesday’s economic reports (EST): 
NFIB Small Business Optimism Index - 6:00am
PPI-FD - 8:30am
Redbook - 8:55am


METALS / OIL

Gold closed at $1,278.90 an ounce, up $4.70

Silver settled at $17.05 an ounce, up $0.18

Copper finished at $3.12 a pound, up $0.04

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

ARTICLE OF THE DAY
Understanding CALL Options - As In Our TSLA TradeClick to replace anchor text

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

FREE DAILY TRADE VIDEOS

Join Over 84,750 Traders Receiving Our FREE Daily Trading Videos