Before the Open (Aug 27)

Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets closed mostly up. Japan, China, Hong Kong, India and Indonesia rallied more than 1%; South Korea, New Zealand, Taiwan and Thailand also did well. Europe, Africa and the Middle East are currently doing very well. Poland, Russia, South Africa and Hungary are up more than 1%; Denmark, France, Turkey, Germany, Finland, Israel, Sweden and the Czech Republic are also doing well. Futures in the States point towards a moderate gap up open for the cash market.
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The dollar is down. Oil and and copper are up small amounts. Gold and silver are down small amounts. Bonds are down.
Overnight Stock Movers from barchart.com…
Sonos (SONO -2.98%) was rated a new ‘Outperform’ at RBC Capital Markets with a price target of $25.
Pfizer (PFE +0.47%) was downgraded to ‘Sell’ from ‘Buy’ at Jyske Bank with a price target of $39.
Cushman & Wakefield (CWK +0.57%) was rated a new ‘Buy’ at Goldman Sachs with a price target of $20.
Hibbett Sports (HIBB -30.20%) was downgraded to ‘Hold’ from ‘Buy’ at Canaccord Genuity with a price target of $21.
Chipotle Mexican Grill (CMG +0.52%) was downgraded to ‘Underperform’ from ‘Neutral’ at Wedbush with a price target of $445.
American Eagle Outfitters (AEO -1.11%) was downgraded to ‘Neutral’ from ‘Outperform’ with a price target of $29.
CIT Group (CIT -0.05%) was downgraded to ‘Equal-Weight’ from ‘Overweight’ at Stephens with a price target of $60.
Tesla (TSLA +0.85%) fell 3% in pre-market trading after CEO Musk said he believes the “better path is for Tesla to remain public.”
Rigel Pharmaceuticals (RIGL +0.36%) was rated a new ‘Buy’ at Citibank with a price target of $8.50.
PG&E (PCG -2.62%) gained nearly 1% in after-hours trading after California lawmakers proposed measures to help PG&E and other utilities to deal with liabilities from wildfires including allowing utilities to finance fire costs with bonds.
Today’s Economic Calendar
8:30 Chicago Fed National Activity Index
10:30 Dallas Fed Manufacturing Survey
1:00 PM Results of $26B, 2-Year Note Auction
Other…
today’s upgrades/downgrades from briefing.com
this week’s Earnings from Morningstar
this week’s Economic Numbers/Reports powered by ECONODAY