MF3d The S&P500 ( SP500 ) closed in the green on Friday, after an eventful week that saw the arrival of fresh economic data supporting the easing of monetary policy. Besides focusing on the Fed’s monetary policy committee meeting , market participants also digested comments from Fed chair Jerome Powell. For the week, the tech-heavy Nasdaq ( COMP:IND ) gained 1.
7%, while blue-chip Dow ( DJI ) advanced 0.4%. Wall Street had a slew of upgrades and downgrades from analysts.
Here are some of the major calls for the week: Spirit Airlines and Frontier’s ‘clear as mud’ outlook setup concerns Raymond James Raymond James downgraded Spirit Airlines ( NYSE: SAVE ) and Frontier Group Holdings ( NASDAQ: ULCC ) to Underperform from Market Perform, with the brokerage saying that it sees the setup into Q3 outlook for both carriers “clear as mud” due to rapid market and product modifications, potential headwinds from softer consumer trends, Paris Olympics, and a “pre-election corporate travel impact.” Raymond James’ Savanthi Syth says weak fare trend also possess a challenge, adding that she views legacy carriers Delta Air Lines ( NYSE: DAL ) and United Airlines ( NASDAQ: UAL ) starting to experience some “chop” even as they are able to fly above much of the “industry turbulence.” Nvidia in focus on getting rare downgrade from New Street Research AI darling Nvidia ( NASDAQ: NVDA ) was downgraded by to Neutral from Buy by New Street Research and set a 12-month price ta.