Following are the day’s biggest winners and losers. Find out why shares of JP Morgan and Dick’s Sporting Goods popped while Caterpillar and Discover Financial Services dropped.
POPS (stocks that jumped higher)
JP Morgan (JPM) popped 1%. Although the charge-off rate of U.S. credit cards issued by banks rose to a record in May JP Morgan showed better-than-expected default rates. - All that matters to this stock is next week's earnings, says Joe Terranova.
Steel Dynamics (STLD) popped 2%. BofA-Merrill upgraded the company to 'buy' citing the company's competitive cost position and growth opportunities.
Dick’s Sporting Goods (DKS) popped 1%. Goldman Sachs upgraded the company to ‘buy’ from ‘neutral.’
DROPS (stocks that slid lower)
DJ US Real Estate ETF (IYR) dropped 4%. Talk of a second stimulus reminded investors that real estate is an area of the economy that remains in trouble. - Not good, says Karen Finerman.