Dear Subscribers,

As expected, Bernanke did not reveal anything at the press conference that had not truly been shared beforehand. What is clear is that the Fed is still on "easy street" and will stay there as long as unemployment is high and inflation is not out of hand. When asked about inflation, the Fed Chairman believes most of it is related to the recent rise of oil which is transitory in nature. Meaning they do not expect inflation will rage out of control. Then he pointed out that bond investors are obviously in agreement with him as medium term bonds have not really risen since inflation recently came on the scene.

Essentially we have the "Goldilocks Scenario" where our economy is not too hot and not too cold. It is just right to keep earnings on the rise and the Fed accommodative. This has always been a good tonic for stocks. With that the Dow pressed to a new high of 12,690. We are only 2.5% from 13,000 which we can certainly touch if GDP is better than expected tomorrow.

Featured Commentaries on Zacks.com
•  On Bernanke's Press Conference
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•  Ahead of Wall Street for April 28th - Get the early read on Q1 GDP plus recommendations from our equity research team.

Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

Today's Top Stories: Thursday- April 28, 2011

ZACKS RANK BUY STOCKS

• Aggressive Growth - Entegris Inc. (ENTG) net income came in at $29.2 million, a 76% jump from last year and broke down to $0.23 per share. The Zacks Consensus Estimate was $0.20, giving ENTG its third consecutive surprise. Read More...
   
• Growth & Income - The Valspar Corporation (VAL) net sales for the first quarter of 2011 increased 25.3% to $842.4 million, well ahead of the Zacks Consensus Estimate of $795 million. Organic sales rose a solid 9.8%. Read More...
   
• Momentum - Basic Energy Services (BAS) revenue for Q1was up 72% from last year to $246 million. Earnings also looked great, coming in at 20 cents, week ahead of the Zacks Consensus Estimate of 2 cents. Read More...
   
• Value - Intel Corporation (INTC) reported its first quarter results and easily blew by the Zacks Consensus Estimate by 22%. Earnings per share were a record 56 cents compared to the consensus of 46 cents. Read More...
   

Learn how to profit from our exclusive Zacks Rank stock-ranking system with free resources. Read More...

• Top 5 International Mutual Funds Read More...
• Mutual Fund Homepage

• Bull Of The Day: EI DuPont de Nemours & Co.
  
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• Bear Of The Day: Bank of America Corp.
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• Ahead of Wall Street
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• Aggressive Growth Stock Picking
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• Momentum Stock Picks—April 21, 2011

EDUCATION: Growth and Income

The Risk of a Dividend Cut Read More...

PeopleAndPicks.com:

Player "inthemoneystocks" talks of watching the greenback. "As long as the dollar declines the major stock indexes seem to inflate higher. Traders should keep one eye on the dollar at all times as this is the only inverse relationship in the..." Read More...

• Dow, S&P 500 at highest levels since 2008 @ CNNMoney.com
• Akamai Shares Tumble Despite Penny Beat @ TheStreet.com
• 7 Odd Things You Can Buy at Costco @ MAINSTREET.com
• Berkshire Hathaway Says Exec Misled Company @ FOXBUSINESS.com

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Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

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