The Nasdaq fell for the first session of the year on Thursday, snapping a winning streak that had resulted in record closes for five trading days in a row. Financials sold off ahead of banking earnings Friday morning. Pivotal Research downgraded Disney (DIS) to sell from hold. The firm said markets were not accounting for heightened political risks and uncertainty could hurt a range of companies. Private club operator ClubCorp (MYCC) rallied after establishing a strategic review committee to evaluate options to enhance shareholder value. Jefferies and Wells Fargo have been hired as financial advisers to the committee. Hess (HES) was one of the worst performers on the S&P 500 following production guidance for the year. The oil company upped its exploration capex budget by more than 18%.
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