*JP Morgan cuts Rowan Companies PLC to underweight from neutral. *JP Morgan raises Rowan Companies PLC price target to $39 from $38. *JP Morgan cuts Schlumberger price target to $83 from $84; rating overweight.
Stocks entered the final hour of the week mixed, with the Dow weaker on pressure from IBM and investors weighing the significance of yet another ratings agency warning on debt.
US stock index futures pointed to a higher open on Wall Street Friday despite a downgrade by Fitch Ratings of Goldman Sachs, Bank of America and five other large banks based in Europe and the US, citing "increased challenges" in the financial markets.
S&P futures popped about 6 points when initial jobless claims for the week, at 398,000, were lighter than expected. Stocks are oversold—some agreement on the debt ceiling should lead to a gap up.
Cameron International has been under pressure since March, but last week it started to push higher as option traders turned bullish on the oil and gas name.
Both the Dow and S&P closed in positive territory on Wednesday, despite higher oil. Is the market turning bullish?
"Fast Money" trader Pete Najarian explains what's prompted aggressive upside call buying in two industries on Wednesday.