"Black Friday" actually
takes its name from a famous financial calamity
and, such has been the stock market's inexorable ascent of late, a
10.92 point drop in the
(INDEXDJX:.DJI) to end the week almost qualifies as another one.
Still, even a late-session swoon proved powerless to prevent both
it and the
S&P 500 Index
(INDEXSP:.INX) from hitting historic highs in a holiday-shortened
trading week. Stock markets boomed but not all asset classes fared
as well as equities. Gold, down 5.5% on the month, endured its
worst November since the late '70s. Back then
The Dukes of Hazzard
was big; last week
) learned about
the hazards of Dukes
threw in the towel early - and a good thing,
. On Tuesday, the tech-heavy
(INDEXNASDAQ:.IXIC) hit 4,000 for the first time since 2000. That
day we learned of the
sad passing of a 98-year-old employee of
), who sensibly sat out the market's millennial madness by saying
he "never understood tech." Alfred Feld, who worked at the bank for
eight decades, got himself hired as an office boy in 1933, no mean
feat in a year that the nation's unemployment rate topped out at
24.9%. He leaves behind a firm so flush with cash it
can afford to pay Hillary Clinton, not exactly a
free-market icon, $400,000 for six days work
In terms of economic events that may move US markets today,
September and October construction spending, along with November's
Institute for Supply Management manufacturing index, are all
released at 10:00 a.m. Eastern. Regarding specific stocks, expect
earnings announcements out of
Ascena Retail Group
Cooper Tire & Rubber
Krispy Kreme Doughnuts
broadcaster gets boosted to Buy from Neutral at Guggenheim.
American Eagle Outfitters
(AEO): Shares are now Buy from Neutral at Janney, whose price
target is $20. Catalysts include inventories and gross margin.
(CAB): Stifel hoists the stock to Buy from Hold.
(GTLS): Shares are moved to Overweight from Equal-Weight at Morgan
(EBAY): eBay Inc., which rose 2.47% on Black Friday, is showing
further strength ahead of today's opening bell. This as SunTrust
eBay Inc. takes stock to Buy from Neutral.
(FI): Shares in the energy name, recently trading at three-year
lows, are now Overweight from Equal-Weight at Morgan Stanley.
(KNX): JP Morgan moves the stock to Overweight from Neutral.
(LULU): Lululemon Athletica stock is added to the Best Ideas List
at Janney Montgomery Scott, replacing the ousted
(URBN). Its price objective on Lululemon Athletica, previously $79,
increases by $11 after recent channel checks by the broker were
(MPC): MPC is moved to Buy from Hold at Deutsche Bank.
(MNST): Monster Beverage is now Overweight from Neutral at JP
Morgan. Monster Beverage stock is, accordingly, up sharply this
(PGR): The insurance outfit gets upgraded to Neutral from Sell at
(RKUS): RKUS is raised to Buy from Neutral, also at Goldman.
Simon Property Group
(SPG): Morgan Stanley raises the REIT to Overweight from
(VIAB): The MTV owner gets upgraded to Buy from Neutral at
(WBMD): Shares are now Neutral from Sell at Goldman.
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