September 15, 2023 8:45 am

Futures traded mixed as we prepare to close out the trading week with a triple witching Friday, after a big day of risk on Wall Street where all major indexes traded higher. The venerable Dow Jones industrial average led the advance, ending the day up 0.96% at 34,907.11. Investors shrugged off some hotter-than-expected inflation data on Wednesday and Thursday after retail sales unexpectedly jumped in August partly due to rising gasoline prices. Initial jobless claims totaled 220,000, compared to expectations of 225,000. A major threat on the horizon is the possibility of a government shutdown if an agreement is not reached by September 30.

Treasury yields were higher across the yield curve on Thursday, particularly at longer maturities, as the bond market (unlike the stock market) was unenthusiastic about this week’s higher-than-expected inflation data. The benchmark 10-year note closed the session at 4.29%, while the shorter two-year note was last at 5.02%. Although the reversal between the two has narrowed, it has persisted for almost a year and many consider it a harbinger of next year’s recession.

Brent and West Texas Intermediate crudes rose again on Thursday, with both benchmarks ending the day significantly higher. Brent closed up 2.16% at $94.04, while WTI ended the day at $90.58. Natural gas also had a good day, rising 1% to close at $2.70.

Gold ended the day slightly lower after the producer price index and major retail sales rose. The December contract closed at $1,931.60. Bitcoin rose rapidly for the second straight day, closing the session at $26,609.20, up another 1.54% on the day.

24/7 Wall St. reviews dozens of analyst research reports every weekday with the goal of finding new ideas for investors and traders alike. Some of these daily analyst calls are about stocks to buy. Other calls are about stocks to sell or avoid. Remember, no single analyst call should ever be used as the basis for buying or selling a stock. Consensus analyst target data comes from Refinitiv.

These are the key analyst upgrades, downgrades and initiations seen on Friday, September 15, 2023.

Arco Platform Ltd. (NASDAQ: ARCE): JP Morgan downgraded the stock to Neutral from Overweight and lowered its price target to $14 from $17. The consensus target is $16.47, and shares were trading at $13.76 apiece on Thursday.

AvalonBay Communities Inc. (NYSE: AVB): Colliers Securities upgraded the stock to Buy from Neutral and has a price target of $202. The consensus target is $204.32. Shares closed at $183.47 on Thursday.

ALSO READ: 7 ‘Strong Buy’ Energy MLPs With Huge Dividends That Wall Street Loves As Oil Prices Climb Towards $100

BJ’s Wholesale Club Holdings Inc. (NYSE: BJ): TD Cowen initiated coverage with an Outperform rating and an $80 price target after the company posted far better-than-expected results. The consensus target is $71.39. The stock closed nearly 4% higher at $69.83 on Thursday following the upgrade.

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Read more: Investing, AVB, BJ, CARR, CCL, ETSY, FSLR, HLF, MET, NCLH, ORCL, PRU, RTX, SJM, SMTC, SPGI, ULCC, VIRT, VSCO, Active Trader, Analyst Downgrades, Analysts -Upgrades

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