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The futures traded higher after a risk-off day on Wednesday, with all major indexes closing lower following Tuesday’s decline. Positive earnings reports from retail giants Target and TJX, as well as Walmart’s strong report, boosted the argument for a strong consumer. However, consumer credit card debt has reached a record trillion, raising concerns about mounting debt and the potential impact of higher interest rates. Home builder optimism also plummeted as mortgage rates surged to their highest level in 22 years.

Treasury yields were higher across the curve on Wednesday, as sellers anticipate a possible increase in the federal funds rate in September. The yield inversion, which has been in place for almost a year, signals a potential recession starting 14 to 18 months after the inversion.

Oil prices bounced back on Wednesday after a rough start to the week. Traders cited a significant inventory draw as the reason for the recovery. Gold also saw a rebound after a tough week, with some industry experts recommending it as a holding in case of an economic collapse.

While rising interest rates over the past 16 months have raised concerns about a major economic slowdown, the economy has not shown imminent signs of collapse. Bitcoin closed at ,126.40.

Several companies were upgraded, downgraded, or initiated by Wall Street analysts on Thursday, August 17, 2023. Ashland Inc. was selected as the Bear of the Day due to stalled top-line growth. Brixmor Property Group Inc. was upgraded to Buy by Goldman Sachs. Callon Petroleum Co. received an upgrade to Buy from Citigroup. CAVA Group Inc. was reiterated as a Buy by Jefferies. Chesapeake Energy Corp. was downgraded by J.P. Morgan. Chevron Corp. was upgraded by Mizuho. GE Healthcare Technologies Inc. received coverage from Wells Fargo with an Overweight rating.

Investing in real estate can diversify your portfolio, but expansion may come with additional costs. Online brokerages often offer low investment fees, helping investors minimize expenses and maximize profit.

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