This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.
Copyright 2024 Zacks Investment Research | 10 S Riverside Plaza Suite #1600 | Chicago, IL 60606
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +24.20% per year. These returns cover a period from January 1, 1988 through April 1, 2024. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Zacks may license the Zacks Mutual Fund rating provided herein to third parties, including but not limited to the issuer.
Visit Performance Disclosure for information about the performance numbers displayed above.
Visit www.zacksdata.com to get our data and content for your mobile app or website.
Real time prices by BATS. Delayed quotes by Sungard.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Markets closed Tuesday at session highs, with only the Dow wallowing in negative territory by the closing bell. But even that was something of a win today: after trading down more than -700 points at one stage this morning, the Dow closed -129, -0.42% on the day. The S&P 500 crept into the green minutes before the bell, +0.16%, which is notable considering 8 of the 11 sectors in the S&P traded down today.
The Nasdaq, on the other hand, grew nearly 200 points, +1.75%, on strong rebounds in companies that have been getting battered over this bear market environment: Etsy (ETSY - Free Report) was +10.5% today, Norwegian Cruise Lines (NCLH - Free Report) +10%, Zoom Video (ZM - Free Report) +8.5%. And the small-cap Russell 2000, having sheared of nearly -8% over the past month, gained +0.54% on the day.
Natural gas prices in Europe helped keep sentiment down and recession fears up across the Atlantic, and we see the euro plunge to a two-decade low versus the U.S. dollar. Meanwhile, here at home WTI crude prices slipped beneath $100 per barrel for the first time in a while (though still up nearly +48% in the past year), sending stocks like Halliburton (HAL - Free Report) -8%.
Factory Orders data for May came out this morning, demonstrating stronger-than-expected demand with a headline figure +1.6%, 100 basis points ahead of expectations and more than double the upwardly revised +0.7% from the previous month. Machinery and transportation equipment were up +1.2% and +1%, respectively, while appliances and components dropped -1% for the month. Tighter chart moves more consistently above breakeven has been a hallmark of Factory Goods Orders, going back two years to the rebound off pandemic conditions.
So there we have it. Not a dramatic correction to right what’s wrong with the market completely, but certainly better than getting a sharp stick in the eye. We hope to continue to dodge such sticks as our shortened trading week moves along.
Questions or comments about this article and/or its author? Click here>>
Free Report: Must-See Energy Stocks for 2023
Record profits at oil companies can mean big gains for you. With soaring demand and elevated prices, oil stocks could be top performers by far in 2023. Zacks has released a special report revealing the 4 oil stocks experts believe will deliver the biggest gains. (You’ll never guess Stock #2!)
Download Oil Market on Fire today, absolutely free.
Get the latest research report on HAL - FREE
Get the latest research report on NCLH - FREE
Get the latest research report on ETSY - FREE
Get the latest research report on ZM - FREE