The markets pulled back slightly today, just off their all time highs as investors were unsure weather or not to take risk ahead of the former FBI director's testimony later this week. The Dow 30 was lower by 47, the S&P 500 sold off 6, and the Nasdaq 100 lost 20. Tomorrow traders will get a look at crude oil inventory numbers along with consumer credit later in the day.
Tesla (TSLA ) shares shot up to new, all-time highs again today after getting an upgrade and target increase by Pacific Crest. The analyst note said that they "expect Tesla shares to rise to $439." That means they still see another 24% upside from today. They say that the launch of the Model 3 is one of the driving factors of the price increase. Investors agreed with the analyst call today. Shares closed very near the highs of the session.
Michaels (MIK ) shares fell to new lows today following their earnings announcement. The arts and crafts retail store was forced to cut its same-stores sales outlook for the current quarter when their earnings showed a miss on both its top an bottom lines for the first quarter. Shares have been on a slide lately and are just another retail stock taking a hit this year.
Dish Network (DISH ) shares sold off from their highs today after a judge ordered the satellite TV provider to pay a record $280 million in fines and damages to the federal government and four states to resolve a lawsuit over "robocall" telemarketing. Shares have been trending higher of late and as of now just seems to be a temporary setback to the uptrend.
