Market Overview - The federal government shutdown has entered its third day with no resolution, yet the stock market continues to reach all-time highs, with the S&P 500 achieving its 29th record-high close since early April [1] - The Nasdaq experienced a modest decline, marking its 30th record close on Thursday, while both indices recorded four positive weeks out of the last five [1] Sector Performance - The healthcare sector was the strongest performer for the week, driven by significant gains in life sciences firm Danaher (over 16%) and drugmaker Eli Lilly (nearly 16%) following President Trump's deal with Pfizer [1] - Utilities and information technology sectors followed, benefiting from the ongoing artificial intelligence trade, with utilities boosted by power demands for AI data centers [1] Company Highlights - **Nike**: The company reported quarterly earnings that exceeded Wall Street expectations, with revenue increasing by 1% instead of the previously forecasted mid-single-digit decline. This improvement is attributed to CEO Elliott Hill's turnaround strategy [1] - **Bristol Myers Squibb**: The company saw a surge in stock prices amid a relief rally in large-cap drug names but was trimmed for cash to pursue better opportunities. The long-term outlook depends on a key trial for its schizophrenia drug, Cobenfy [1] - **Boeing**: The stock was purchased after a drop in gains related to easing FAA restrictions, which could allow for increased production and improved free cash flow. However, the debut of the new 777X jet has been delayed to early 2027 [1] - **Costco**: A small purchase of additional shares was made despite recent rough patches, as the company continues to show consistent market share gains and durable growth [1] Analyst Ratings - **Wells Fargo**: Morgan Stanley downgraded the stock to hold, citing a lack of near-term catalysts and limited upside due to the Fed's interest rate cuts. However, the company is diversifying its revenue streams beyond net interest income [1] - **GE Vernova**: RBC Capital Markets downgraded the stock to hold, reducing the price target due to challenges in the wind turbine business and valuation concerns [2] - **Apple**: Jefferies downgraded Apple to underperform, suggesting that demand for the latest iPhone models is already priced in. However, there is skepticism about the downgrade due to Jefferies' frequent rating changes and belief in Apple's potential for future innovation [2]