Daily Wrap

Mega-caps dominated the market action again for the first day of September. More specifically, Apple (AAPL +4.0%) rising 4% after a pair of upgrades from JPMorgan (price target on the stock to $150 from $115) and Bank of America. In BofA’s note they cite FOMO, Momentum and valuation expansion (from 28x to 33x) as the…