Now that U.S.-Iran tensions have cooled a bit, it may be time to revisit predictions from some strategists last year<\/a> that said equities are primed for big gains in the first quarter.<\/p>\n They may have been onto something. The Nasdaq Composite
Also shooting to a new high on Wednesday were shares of electric-car maker Tesla
That brings us to our call of the day<\/strong> from Baird analysts Ben Kallo and David Katter, who have downgraded Tesla to a neutral rating after a longtime overweight, or bullish position, on the shares. In a note to clients, they said it is time to cash in on some of the big gains the automobile maker has seen. <\/p>\n \u201cWe are moving to the sidelines, admittedly battle-weary after a hard-fought several years, including [approximately] 20% outperformance over the last year,\u201d said the team, who spoke of \u201ccontentious arguments with (evidently) high-conviction bears.\u201d <\/p>\n Note the analysts lifted their share target to $525 from $355\u2014shares closed just shy of $500 on Wednesday.<\/p>\n They said risk\/reward for Tesla shares is looking more balanced following recent gains\u2014up 113% in the last 6 months, nearly 18% year-to-date. And while some analysts have been turning increasingly optimistic<\/a> on the company\u2019s future, they think that process may be in the latter stages.<\/p>\n Baird analysts added that Tesla stock is now reflecting lots of progress the company has made over the past two years, both operationally and financially. They mentioned such pluses as the new Shanghai factory and an \u201cextremely compelling product line,\u201d including the Model Y, the Tesla Semi Roadster and the Pickup. <\/p>\n But they stopped short of suggesting investors bet on shares to fall over the long run. They said even amid bearish arguments by some, \u201cthe company has continued to grow and execute (albeit on a slower timeline than projected, at times) and we expect this will continue.\u201d<\/p>\n Dow
I guess \u201cAppear\u201d is the new Major Term. We \u201cAppear\u201d to have eased Tensions with Iran. We \u201cAppear\u201d to have a US\/China Trade deal. What is \u201cActual\u201d is the $spx<\/a> held the 8day and is opening at a new ATH with lots of stocks acting Great. Trim and trail<\/p>\n \u2014 Scott Redler (@RedDogT3) January 9, 2020<\/a><\/p><\/blockquote><\/div>\n Investors putting money into Apple
If you had bought Apple shares exactly one year ago you would have doubled your money. And that excludes dividends. Quite astonishing considering the size and scale of the business. pic.twitter.com\/yRzehldC1q<\/a><\/p>\n \u2014 Byron Lotter (@Byron_vestact) January 9, 2020<\/a><\/p><\/blockquote><\/div>\n Lotter said while some attribute the share rise to renewed popularity for Apple products in China, he thinks its services division is a star player. He cited a company statistic<\/a> that shows $1.42 billion was spent on the App store between Christmas and New Year\u2019s Eve, while he\u2019s also positive on Apple Music and Apple TV. An \u201cincredible business\u2026still has legs,\u201d he told clients in a note. <\/p>\n Bed Bath & Beyond shares
Watch shares of HP
Ahead of Friday\u2019s nonfarm payroll data<\/a>, we\u2019ll get weekly jobless claims before the open. <\/p>\n Democratic presidential candidate Mike Bloomberg on why you should vote for him.<\/a><\/p>\n Pilot of doomed Ukrainian airliner apparently tried to avoid crashing into homes.<\/a><\/p>\n Chinese scientists probing a pneumonia outbreak discover a new virus.<\/a><\/p>\n Need to Know starts early and is updated until the opening bell, but <\/strong> sign up here<\/a> to get it delivered once to your email box. Be sure to check the Need to Know item. The emailed version will be sent out at about 7:30 a.m. Eastern.<\/strong> <\/p>\n Follow MarketWatch on <\/strong> Twitter<\/a>, Instagram<\/a>, Facebook.<\/a><\/p>\n \t\t\t\t<\/p><\/div>\n
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\n COMP, +0.67%<\/span><\/a><\/span>
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\n \u00a0nailed a record close on Wednesday, while the S&P 500
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\n \u00a0could be headed for one today, judging by positive futures action. News that China\u2019s Vice Premier Liu He will sign a \u201cPhase 1\u201d trade deal<\/a> in Washington next week is also inspiring investors.<\/p>\n
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\n TSLA, +4.92%<\/span><\/a><\/span>,
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\n whose market capitalization is now bigger than Ford Motor\u2019s at its peak<\/a>. <\/p>\nThe market<\/h6>\n
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\n YM00, +0.32%<\/span><\/a><\/span>,
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\n ES00, +0.30%<\/span><\/a><\/span>
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\n \u00a0and Nasdaq -100
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\n NQ00, +0.41%<\/span><\/a><\/span>
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\n \u00a0futures\u00a0are higher, with European stocks
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\n SXXP, +0.39%<\/span><\/a><\/span>
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\n on track for a record session<\/a> after Wednesday\u2019s upbeat day on Wall Street. Asian markets
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\n ADOW, +1.57%<\/span><\/a><\/span>
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\n also rebounded<\/a>. Gold
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\n GC00, -0.76%<\/span><\/a><\/span>
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\n \u00a0is pulling back from what\u2019s been a big run this week.<\/p>\nThe tweet<\/h6>\n
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The chart<\/h6>\n
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\n AAPL, +1.61%<\/span><\/a><\/span>
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\n \u00a0shares a year ago would have doubled their money, according to this chart tweeted by Byron Lotter, portfolio manager at Vestact Asset Management.<\/p>\n\n
The buzz<\/h6>\n
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\n BBBY, -1.13%<\/span><\/a><\/span>
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\n \u00a0are tumbling after the housewares retailer reported a big quarterly miss<\/a> and pulled its outlook.<\/p>\n
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\n HPQ, +1.31%<\/span><\/a><\/span>
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\n \u00a0after the printer and personal computer maker again rejected a takeover bid by Xerox<\/a>
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\n XRX, -0.06%<\/span><\/a><\/span>.
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\n <\/p>\nRandom reads<\/h6>\n