The market showed strength for the 2nd-straight session following Wednesday’s run to higher highs before a mixed closed. Better-than-expected corporate earnings and economic news help sentiment along with the signing of the USMCA agreement.The weakness into the closing bell and after the Fed news on unchanged interest rates was a signal of a continued choppiness for the market going forward.The Nasdaq traded to a midday high of 9,329 while closing at 9,275. Near-term resistance at 9,300 was cleared but held with a close above this level being a slightly bullish signal.The Dow was up for the 2nd-straight session after trading an afternoon peak of 28,944 while closing at 28,734. Key resistance at 29,000 was challenged but held.The S&P 500 tested a high of 3,293 before closing slightly lower at 3,273. Near-term resistance at 3,300 was challenged for the 2nd-straight session but held.The Russell 2000 traded in a 14-point range before closing on the session low of 1,649 and just above the 50-day moving average. Key support at 1,650 failed to hold with risk towards 1,635-1,620 on continued weakness.
Apple (AAPL) upgraded to Hold from Sell at MaximFacebook (FB) upgraded to Strong Buy from Outperform at Raymond JamesGeneral Electric (GE) upgraded to Buy from Neutral at BofAAshland (ASH) downgraded to Underweight from Neutral at JPMorganCapri Holdings (CPRI) downgraded to Hold from Buy at NeedhamWex (WEX) downgraded to Hold from Buy at SunTrust
THURSDAY’S EARNINGS ANNOUNCEMENTS Before the open: Altria Group (MO), Biogen (BIIB), Coca-Cola (KO), Dover (DOV), Eli Lilly & Co. (LLY), Hershey Company (HSY), International Paper (IP), Kirby (KEX), Murphy Oil (MUR), NetScout Systems (NTCT), Northrop Grumman (NOC), Parker-Hannifin (PH), Quest Diagnostics (DGX), Raytheon (RTN), Sherwin-Williams (SHW), Stifel Financial (SF), Tractor Supply Company (TSCO), United Parcel Service (UPS), Valero Energy (VLO), Verizon Communications (VZ), WESCO International (WCC), XCEL Energy (XEL)
After the close: Amazon.com (AMZN), Beazer Homes USA (BZH), Cypress Semiconductor (CY), Deckers Brands (DECK), Electronic Arts (EA), Flex (FLEX), Griffon (GFF), Hawaiian Holdings (HA), Levi Strauss & Co. (LEVI), Minerals Technologies (MTX), National Instruments (NATI), Proofpoint (PFPT), ResMed (RMD), SkyWest (SKYW), United States Steel (X), Visa (V), Western Digital (WDC)
THURSDAY’S ECONOMIC NEWSJobless Claims – 8:30amProductivity and Costs – 8:30amGDP – 8:30am
METALS/ OILGold closed at $1,570.40 an ounce, up $0.60Silver settled at $17.49 an ounce, up $0.03Copper finished at $2.55 a pound,