The stock market closed sharply higher on Tuesday, led by a resurgence in Tech amid a decline in Treasury yields. Additionally, the U.S. House of Representatives is set to vote on Wednesday on the $1.9 trillion stimulus package the Senate advanced over the past weekend, putting the legislation on track for potential passage this week and teeing up the economy for another massive infusion of stimulus.The Nasdaq zoomed to an afternoon of 13,151 before closing at 13,073 (+3.7%). Prior and lower resistance at 13,000-13,150 was cleared and held. A move above the latter would indicate additional strength towards 13,200-13,350 and the 50-day moving average.The Russell 2000 traded to an intraday high of 2,261 while ending at 2,245 (+1.9%). Near-term and lower resistance at 2,250-2,275 was tripped but held. A close above the latter would suggest additional upside towards 2,300-2,325 with the current all-time peak at 2,318. Below is a chart of the IWM.The S&P 500 closed at 3,875 (+1.4) after tapping a second half high of 3,903. Prior and lower resistance at 3,900-3,925 was breached but held. A pop above the latter would signal ongoing strength towards 3,950-3,975 with the former representing the record peak from February.The Dow traded to an all-time lifetime high of 32,150 before settling at 31,832 (+0.1%). Current and lower resistance at 32,000-32,250 was cleared but held for the second-straight session. A close above the latter would indicate ongoing strength towards 32,500-32,750.
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Primo Water (PRMW) upgraded to Outperform from Sector Perform at ScotiabankTesla (TSLA) upgraded to Buy from Neutral at New StreetWheaton Precious Metals (WPM) upgraded to Outperform from Sector Perform at RBCAcadia (ACAD) downgraded to Hold from Buy at StifelKinder Morgan (KMI) downgraded to Market Perform from Outperform at BernsteinTanger Factory (SKT) downgraded to Sell from Neutral at Goldman Sachs
WEDNESDAY’S EARNINGS ANNOUNCEMENTS Before the open: BioDelivery Sciences International (BDSI), Campbell Soup (CPB), Driven Brands Holdings (DRVN), Express (EXPR), GreenSky (GSKY), Harvard Bioscience (HBIO), International Money Express (IMXI), Lifetime Brands (LCUT), REV Group (REVG), Surgery Partners (SGRY), Tupperware (TUP), United Natural Foods (UNFI), Vera Bradley (VRA)After the close: AgroFresh Solutions (AGFS), AMC Entertainment Holdings (AMC), Best (BEST), Calavo Growers (CVGW), DiaMedica Therapeutics (DMAC), Flexion Therapeutics (FLXN), GDS Holdings (GDS), Harpoon Therapeutics (HARP), Jones Soda (JSDA), Kronos Worldwide (KRO), Lending Club (LC), Mission Produce (AVO), Myomo (MYO), Oracle (ORCL), Protagonist Therapeutics (PTGX), Rush Street Interactive (RSI), Skillz (SKLZ), Talos Energy (TALO), U.S. Well Services (USWS)
WEDNESDAY’S ECONOMIC NEWSMBA Mortgage Applications – 7:00amConsumer Price Index – 8:30am
METALS/ OILGold closed at $1,716.90 an ounce, up $38.90Silver settled at $26.18 an ounce, up $0.91Copper finished at $4.01 a pound, down $0.08Crude Oil was at $63.76 a barrel, down $1.01Bitcoin Investment Trust (GBTC) ended at $49.12 up $3.72
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