Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

This morning’s favorable news flow should help stocks sustain the positive momentum from Wednesday. Greece’s private sector bond swap, whose uncertain fate had gripped the markets in recent days, appears to be attracting enough participation to make the deal binding on all bondholders.

The details of the swap will come out Friday morning, but growing optimism about the deal is helping bring down the yields on Italian and Spanish government bonds, which had started creeping back up in recent days.

Friday morning not only clears up the air on the Greek situation, but will also likely confirm the recent improving trend in the U.S. labor market though the February non-farm payroll report. This morning’s modestly weaker-than-expected Initial Jobless Claims report nevertheless confirms the improving jobs picture, helping build expectations of a strong labor reading tomorrow. The expectation is that a favorable labor market read on Friday will serve as the key catalyst to push stocks above resistance levels.

Initial Jobless Claims came in a tad weaker than expected last week – up 8K to 362K vs. expectations of a lower rise. The prior week’s tally was modestly revised upwards to 354K from the originally reported 353K. The four-week average, which smoothes out the week-to-week fluctuation, moved up by a mere 250 to 355K.

This week’s modest ‘miss’ notwithstanding, the overall trend in the labor market has consistently been in favorable direction lately. It will be interesting to see if Friday’s jobs report will further confirm this trend.

On the earnings front, Williams-Sonoma (WSM - Snapshot Report), the home furnishings retailer, beat earnings and revenue expectations and guided higher. Results at truck maker Navistar (NAV - Analyst Report) and retailer Stein Mart came short of expectations.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GROUP DXYN 15.84 +7.90%
BOFL HOLDING BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%