We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Stocks closed mostly lower on Monday after a sharply higher week last week.
Trade took center stage as the latest round of tariffs kicked in on China yesterday.
And a report over the weekend that China canceled trade negotiations that were scheduled for this week only exacerbated the tension surrounding trade between the two largest economies in the world.
Markets have been shrugging off trade tensions between the two countries for months. And I expect that to continue, save for days like yesterday. Because as I've mentioned before, analysts are not expecting the tariffs to have much of an impact on our earnings or GDP. And also because the back and forth with tariffs isn't the end game -- it's a tool each party is using as leverage to advance trade talks that will ultimately result in a fairer deal for all.
Of course, things can change. But at the moment, that's the current state of where things are and the prevailing wisdom surrounding it all.
In other news, the Chicago Fed National Activity Index rose to 0.18, up from last month's 0.13. The report noted that the production component drove most of the gains, with the sales, orders & inventories component contributing as well.
The Dallas Fed Manufacturing Survey slipped a bit from 30.9 to 28.1. Interestingly, analysts put a positive spin on the slight easing, specifically citing a lessening in capacity stress as a positive given the previous 'risk of overheating' in that region.
Today we'll get a look at retail sales via the Redbook report, home sales with the S&P Corelogic Case-Shiller Home Price Index, manufacturing thru the Richmond Fed Manufacturing Index, consumer confidence via the Consumer Confidence report, and a look at the confidence of professional investors and their buying and selling thru the State Street Investor Confidence Index.
Should be a busy day.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
If you're looking for the best way to play Canada's October 17th national marijuana legalization bill, consider the small company that recently signed an exclusive deal with the Canadian government. It's about as close to a monopoly on the booming marijuana market as you can get and we've got all the details.
Do you want peace of mind, but also crave outperformance with long-term double and triple-digit wins?
Look into Zacks' unique approach to income investing. While anyone can find stocks that are currently paying high dividends, we target those most likely to continue paying them in the future – quarter after quarter.
Stocks closed mostly lower on Monday after a sharply higher week last week.
