Back to top

Free: Subscribe to Profit from the Pros

Zacks' Bull Stock of the Day, morning market e-briefing, strategies for picking the best stocks, funds, ETFs, and options plus more.

Join 500,000+ investors in-the-know.

Privacy Policy

X

View the PFP Archive

Profit from the Pros

Stocks Poised For Another Weekly Gain

Stocks were modestly higher for much of the day yesterday, but ended mixed by day's end. The tech-heavy Nasdaq and the small-cap Russell 2000 Index were up, while the Dow and the S&P were down.

But I was actually happy to see it. There was a common gap left on the charts for both the Dow and the S&P after Tuesday's gap higher open. (Common gaps are typically filled in. And technicians watch those gaps as areas of retracement, preferring to buy once those gaps are filled.) But yesterday's pullback, as small as it was, filled that gap in, and now it's free to move higher.

Not much in the way of new news yesterday. But a delegation from Mexico was in DC and sounded optimistic on a new NAFTA deal being announced shortly. Could even come as early as today. Either way, once it's agreed upon, it will be presented to Canada. A new NAFTA deal would likely be cheered by the market.

That would mean real trade talk progress with not only the US and the EU, after they announced an agreement on a framework for talks a couple of weeks ago, but now an agreement with Mexico and Canada too (if/when it happens).

China will be the hardest lift. But the tone and cooperation with the aforementioned partners does bode well for what we may see with China. Stay tuned.

In other news, Weekly Jobless Claims came in better than expected shedding -5,000 new claims to 213K.

And the Producer Price Index-Final Demand report showed prices were flat m/m. Excluding food & energy, however, it was up 0.1% vs. estimates for 0.3%. On a y/y basis, prices were up 2.7%, which was a slight dip from last month's 2.8% pace. All in all, it shows a moderate pace of inflation. Not too slow and not too fast. This suggests the Fed will keep to its indicated pace without worry of acceleration.

Once again, more good news on the economic front.

Expecting more gains to come for the economy and the market.

Best,

Kevin Matras

Executive Vice President, Zacks Investment Research

Sponsor

Monday Morning, Zacks Strikes Back

No doubt you've seen a good stock nosedive in price for no apparent reason. It might well have fallen victim to computer-driven High-Frequency Traders (HFTs). Their favorite tactic is to trigger panic selling on a strong company. Then they buy as it bottoms and collect big gains as the price rebounds to a normal level.

On Monday, Zacks is mounting a Counterstrike to catch two of these Manipulated Price Drop opportunities and turn them to our advantage.

In addition, we've already posted a selection of stocks that are poised for sharp and sustained rebounds. Our aim is for quick, double-digit gains like the ones we recently closed for +47.0%, +25.1%, and +15.9% in as little as 1 month. Don't delay. Access to the stocks ends midnight Sunday, August 12.

See Counterstrike Moves Now >>

Most Popular Articles from Zacks.com

Taking Stock of the Earnings Picture

The picture that has come out of the Q2 earnings season is one of broad-based strength across all sectors. Read More »

Trump Boosts Short-Term Health Plans: Top 4 Insurance Plays

The new rule allows customers to purchase limited-duration health plans for periods as short as 12 months. Read More »

AI Arms Race with China: Deep Learning and Investing

I'd rather learn about and invest in Chinese companies creating the future than be afraid of them. Read More »

Bitcoin Falls After SEC Postpones ETF Decision

The regulatory body forbade an application by the Winklevoss brothers to come up with a bitcoin ETF. Read More »

Apple (AAPL) Stock Remains A Buy Even At New High

The iPhone giant's performance has it trading over $200 per share for the first time in company history. Read More »

Sponsor

Increase Investment Returns with Free Zacks' Portfolio Tracker

Follow your investments easily in one place. Get free email updates that alert you to major events affecting your stocks and funds, including timely recommendation changes, earnings announcements and, most importantly, earnings estimate revisions.

Click to Learn More>>

Bull of the Day: Ralph Lauren (RL)

With a strong brand and effective management, the 50-year old apparel maker is turning in impressive results. Read More »

New Zacks Strong Buys for August 10th

Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »

Customize Your Profit from the Pros Delivery
Connect with Us:
Facebook
Twitter
StockTwits
Contact Info:

Phone: 1.800.767.3771 ext. 9339
Email: support@zacks.com

 
Get it on Google Play Get it on Google Play