Turkey Day is nigh and the Dow Jones Industrial Average and the S&P 500 are at highs.
The Dow Jones Industrial Average rose 0.31% to 19083.18, a new record close! The S&P 500 gained 0.08% to 2,204.72, also a new record close. The Nasdaq Composite was down 0.11% to 5,380.68. The Trump effect continues: industrial and defense stocks are in; tech stocks are out.
While much remains uncertain, a rate hike in December seems guaranteed. No its not just 2015 d茅j vu. Stifels Lindsey Piegza explains:
The November FOMC meeting minutes are essentially moot at this point. Against the backdrop of a flurry of Committee members comments including the Chairman herself suggesting a rate rise was imminent, the market is now pricing in a December hike with 100% certainty.
Still, a few notable items in the November FOMC meeting minutes to digest ahead of the holiday:
There remains much debate among the Committee members over the need for preemptive Fed action. Some argued that risks to economic and financial stability could increase over time if the labor market overheated, and furthermore that maintaining low interest rates for an extended period could lead to a further mispricing of risk. Of course, other suggested that given the sill-lackluster pace of activity in the overall economy, allowing the unemployment rate to fall below its longer-run normal level for a time could result in favorable supply-side effects, as well as potentially hasten the return of inflation back to the Committees longer-term 2% objective.
Top 5 Tech Stocks For 2018: RealPage, Inc.(RP)
- [By Stephan Byrd]
RealPage (NASDAQ:RP) had its target price increased by KeyCorp from $61.00 to $65.00 in a research note published on Friday morning. The firm currently has an overweight rating on the software maker’s stock.
Top 5 Tech Stocks For 2018: EPAM Systems, Inc.(EPAM)
- [By Anders Bylund, Chuck Saletta, and Brian Feroldi]
Read on to see why they pickedAllstate(NYSE:ALL),EPAM Systems(NYSE:EPAM), andUniversal Display(NASDAQ:OLED).
Image source: Getty Images.
- [By Dan Caplinger]
Constant advances in technology require companies of all sizes to make efforts to keep up and take maximum advantage of new capabilities before competitors do. That puts companies like EPAM Systems (NYSE:EPAM) in a great position, because the resulting demand for IT services is constant and growing. EPAM did a good job of fulfilling its potential for strong growth in 2017, and the IT services specialist has high hopes that 2018 will bring even more gains.
Top 5 Tech Stocks For 2018: StarTek, Inc.(SRT)
- [By Jim Robertson]
Just before Thanksgiving, our Under the Radar Moversnewsletter suggested shortingsmall cap business process outsourcing (BPO) stock StarTek, Inc (NYSE: SRT):
Top 5 Tech Stocks For 2018: United Microelectronics Corporation(UMC)
- [By Ashraf Eassa]
United Microelectronics (NYSE:UMC), for example, has said that it expects to begin “commercial production” of a 14-nanometer technology “by the second half of 2017,” per EETimes.
Top 5 Tech Stocks For 2018: Loral Space and Communications Inc.(LORL)
- [By Max Byerly]
Loral Space & Communications (NASDAQ:LORL) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.