U.S. markets opened lower on Monday, extending Friday’s losses that had been triggered by escalating tensions between the U.S. and Iran, before rebounding to settle higher. Iran’s announcement that it was pulling out of the nuclear deal brokered by the Obama administration, alongside the passage by Iraq’s parliament of a nonbinding resolution to expel U.S. troops kept the major indexes on alert after setting lower lows.The positive close appears to be pricing the likeliness that the threats will not lead to war, and thus it is likely that the current market moves will be short-term in nature. However, volatility remains slightly elevated after trading to its highest level of the new year while holding key resistance levels.The Nasdaq rose 0.6% after trading to a late day high of 9,072 and closing a point below this level. Lower resistance at 9,050-9,100 was cleared and held with a close above the latter and the all-time high of 9,093 signaling momentum towards 9,200-9,250.The S&P 500 rose 0.4% after closing on its session high of 3,246. Near-term and lower resistance at 3,225-3,250 was cleared and held with a close above the latter and the all-time high of 3,258 getting 3,275-3,300 in focus.The Dow was up 0.2% after testing a late day high of 28,708. Current and lower resistance at 28,600-28,800 held for the 2nd-straight session with a close above the latter and the lifetime high of 28,872 signaling a run towards the 29,000 level.The Russell 2000 edged up 0.1% while trading to an afternoon high of 1,664. Prior and lower resistance at 1,665-1,680 held with a close above the latter and the 52-week peak of 1,681 getting the 1,700 level back in focus.Communication Services led sector strength after soaring 1.3% while Energy and Healthcare jumped 0.8% and 0.6%, respectively. Materials fell 0.4% and Financials slipped 0.1% and were the only sector laggards.
Trade Your Way To A FORTUNEwith BioTech & Marijuana Stocks!
Let me show you my Step-by-Step BLUEPRINT that Returned 5,500% in the last 2 years!
Here are a few recent LIVE Trades: * 249% GAIN in ABBV in 4 days… * 203% GAIN in TLRY in 21 days… * 174% GAIN in LLY in 8 days… * 135% GAIN in AMGN in 18 days… * 111% GAIN in IBB in 9 days…or * 110% GAIN in CGC in 30 days…
6 trades & 982% return in only 90 days & WINS 91% of the time!Go Here My presentation reveals exactly how it all works
Nokia (NOK) upgraded to Strong Buy from Outperform at Raymond JamesSalesforce (CRM) upgraded to Top Pick from Outperform at RBC CapitalSanofi (SNY) upgraded to Overweight from Neutral at JPMorganApple (AAPL) downgraded to Buy from Strong Buy at NeedhamCiti (C) and Huntington Bancshares (HBAN) downgraded to Hold from Buy at Deutsche BankU.S. Bancorp (USB) downgraded to Sell from Neutral at Goldman Sachs
TUESDAY’S EARNINGS ANNOUNCEMENTS Before the open: AngioDynamics (ANGO), Northern Technologies (NTIC)After the close: Exfo (EXFO)
TUESDAY’S ECONOMIC NEWSRedbook – 8:55amDurable Goods Orders – 8:30amFactory Orders – 10:00amISM Manufacturing Index – 10:00am
METALS/ OILGold closed at $1,568.80 an ounce, up $16.40Silver settled at $18.18 an ounce, up $0.03Copper finished at $2.79 a pound,