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After MLK Day Today, Markets Go for 5 Straight Up Weeks
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Monday, January 21, 2019
In observance of Dr. Martin Luther King, Jr’s birthday, markets are closed today. Not only that, but no economic indicators are scheduled to be released today, either — even those that wouldn’t be otherwise affected by the partial government shutdown, now into its fifth week with no signs of coming to an end.
What we also see this morning — or rather, are not seeing — are new earnings reports coming out either this morning or this afternoon. This will concentrate the number of reports into the four remaining days of this trading week, and as such will really see results piling up. Big names such as IBM (IBM - Free Report) , Johnson & Johnson (JNJ - Free Report) and Ford Motor Company (F - Free Report) are among the big names we expect to be hearing from this week.
Our current Q4 earnings season is unfolding along reasonable positive expectations. However, as Zacks Director of Research Sheraz Mian pointed out on Friday, the growth pace of earnings expectations for the quarter has come way down from what we’d seen in the past two quarters. Part of this is no doubt due to the difficult comps from Q4 2017, which helped push markets to all-time highs last year, before crashing down on fears of a prolonged and painful U.S./China trade war. For more on the particulars of Sheraz’s report, click here: Key Takeaways from Q4 Earnings Results Thus Far
Apart from coming Q4 reports, economic metrics will be in relatively short supply this week, and not only due to the longest government shutdown in our nation’s history. Existing Home Sales is scheduled for release tomorrow, then nothing further until weekly Initial and Continuing Jobless Claims come out Thursday morning. Also on Thursday, PMI Manufacturing and Services numbers for January hit the tape, as will Economic Indicators from December. Friday’s scheduled Durable Goods Orders, Core Capital Equipment Orders and New Home Sales will not be reported as scheduled, assuming the shutdown continues through the end of this week.
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
After MLK Day Today, Markets Go for 5 Straight Up Weeks
Monday, January 21, 2019
In observance of Dr. Martin Luther King, Jr’s birthday, markets are closed today. Not only that, but no economic indicators are scheduled to be released today, either — even those that wouldn’t be otherwise affected by the partial government shutdown, now into its fifth week with no signs of coming to an end.
What we also see this morning — or rather, are not seeing — are new earnings reports coming out either this morning or this afternoon. This will concentrate the number of reports into the four remaining days of this trading week, and as such will really see results piling up. Big names such as IBM (IBM - Free Report) , Johnson & Johnson (JNJ - Free Report) and Ford Motor Company (F - Free Report) are among the big names we expect to be hearing from this week.
Our current Q4 earnings season is unfolding along reasonable positive expectations. However, as Zacks Director of Research Sheraz Mian pointed out on Friday, the growth pace of earnings expectations for the quarter has come way down from what we’d seen in the past two quarters. Part of this is no doubt due to the difficult comps from Q4 2017, which helped push markets to all-time highs last year, before crashing down on fears of a prolonged and painful U.S./China trade war. For more on the particulars of Sheraz’s report, click here: Key Takeaways from Q4 Earnings Results Thus Far
Apart from coming Q4 reports, economic metrics will be in relatively short supply this week, and not only due to the longest government shutdown in our nation’s history. Existing Home Sales is scheduled for release tomorrow, then nothing further until weekly Initial and Continuing Jobless Claims come out Thursday morning. Also on Thursday, PMI Manufacturing and Services numbers for January hit the tape, as will Economic Indicators from December. Friday’s scheduled Durable Goods Orders, Core Capital Equipment Orders and New Home Sales will not be reported as scheduled, assuming the shutdown continues through the end of this week.
Mark Vickery
Senior Editor
Questions or comments about this article and/or its author? Click here>>
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6% and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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