Trade, The Shutdown, And Earnings Keeping Markets Busy

Stocks closed higher yesterday after trading on both sides throughout the day.

There was not a lot of market moving news out yesterday. Although, there was a report that the White House believes we could see zero growth this quarter if the shutdown continues. But that was quickly followed up with comments acknowledging it would be made up once the government reopened, and that the ensuing growth afterwards would be "humongous".

While earnings are still center stage, the politics surrounding the shutdown seemed to grab most all of the attention yesterday.

In other news, MBA Mortgage Applications fell -2.7% last week with purchases down -2.0%. But for context, purchases were up 13.5% in the week prior, the highest level since 2010.

The Richmond Fed Manufacturing Index was off -2 vs. last month's -8 and views for -3. Analysts were quick to point out that while 'small sample' reports like this were picking up weakness, the broader manufacturing numbers have been showing strength, with December's Industrial Production report in particular showing a surge.

And the Redbook report showed same-store retail sales rising a "very strong" 7.0% vs. last year at this time, topping last week's robust 6.7% pace.

Traders will continue to monitor trade talk news. And the high level talks with Vice Premier Liu He next week are still on.

Meantime, earnings season continues with another 151 companies reporting today.

Earnings season is always an exciting time for the market. And we all know how stocks can soar if they positively surprise. In fact, it's not uncommon to see stocks surge 10%, 15%, or even 20% or more in one day on a fantastic report.

The key is getting into the right stocks.

If you want to learn how to find potentially big winners this earnings season BEFORE they report, I encourage you to read our latest commentary...

How to Find Big Winners This Earnings Season

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