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+3.2 GDP = Correction Over?

Good news was served up Thursday morning with a better than expected +3.2% showing for Q4 GDP. It proves that the 4% growth experienced in Q3 was not a fluke. Indeed we are accelerating above the Muddle Through pace of the past.

This adds to my firm conviction that there is absolutely no fundamental need for stocks to go lower right now. However, I do respect that a deeper correction is a plausible outcome after last year's massive gains. As such I think that 1800 is the key for what happens next.

Meaning that if we crack above 1800, then likely the correction is over. Until that time it's better to assume the market is still in correction mode which allows us to buy more great stocks at discounted prices.

Featured Commentaries:

•  4 Big Winners from Q4 Earnings Season

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Steve Reitmeister (aka Reity...pronounced "Righty")

Executive Vice President

Zacks Investment Research

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Bull & Bear of the Day

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Stock Picking Strategies

Using the Short Ratio to Forecast Turning Points  ››

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Funds Commentary

Best Ranked Energy Mutual Funds  ››

Buy This Top Ranked Aerospace & Defense ETF  ››

3 ETFs to Buy on Great Facebook Earnings  ››

Options Strategies

Two Bullish Strategies to Make Money With Options  ››

Video Reports

4 Emerging Market ETFs Rocked by the Taper

These ETFs have been hit hard by the taper and inflation concerns.

Mr. Market Laughs at Correction Ideas

Strong breadth across growth sectors just told the bears to go back to hibernation.

Investor Anxiety Over Recent Events

Zacks experts discuss recent market moving events contributing to continued investor anxiety.

Earnings HQ

Today's Noteworthy Earnings Before the Bell:   ››  CVXMAABBVSPGLYB

Today's Noteworthy Earnings After the Bell:   ››  No Significant Releases. Check calendar for specifics.

Get the First Calendar Made for Traders.

Visit the Zacks Earnings Calendar

Recent Earnings Winners

Company Symbol Reported Surprise %Price Chg
UNDER ARMOUR INC UA Jan 30 +0.59% +22.93%
PITNEY BOWES INC PBI Jan 30 +0.53% +18.96%
HARMAN INTL INDUSTRIES HAR Jan 30 +1.09% +17.39%
ACXIOM CP ACXM Jan 30 +0.25% +13.53%

See All »

Best Earnings ESP Stocks  

Company Symbol Consensus
Accurate Est.
Reports Zacks Rank ESP
MELCO CROWN ENT MPEL 0.40 0.41 Feb 5 1 +2.50
KNIGHTSBRIDGE VLCCF 0.08 0.09 Feb 5 1 +12.50
AFFYMETRIX INC AFFX 0.07 0.08 Feb 5 1 +14.29
WADDELL&REED -A WDR 0.82 0.84 Feb 4 1 +2.44
FBL FINL GRP-A FFG 0.89 0.93 Feb 6 1 +4.49
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