Back to top

View the PFP Archive

Plus New Zacks Strong Buys for Friday, July 19

Profit from the Pros

Stocks Back In The Green As Earnings Season Continues

Stocks finished in the green yesterday as earnings season looks to wrap up a better than expected first week.

Aside from a few high profile disappointments, earnings season is off to a great start.

And the modest pullback we saw in the last couple of days cleaned up the charts nicely. Last Wednesday's (7/10) higher open left a gap on the charts of the Dow, S&P and Nasdaq. Since 'common' gaps are typically filled, seeing all three go back and fill those gaps in yesterday morning, and then head higher, firms up the technical picture.

Late in the day, we heard that the U.S. shot down an Iranian drone near the Strait of Hormuz. The incident was called a defensive action. Stocks were unfazed by the news. Same for oil. But that should not come as a surprise given the ongoing tension in that area and the market's ongoing muted response.

In other news, weekly Jobless Claims rose by 8,000 to 216K. But they still remain near record low levels.

Leading Indicators slipped -0.3% m/m vs. the prior reading of 0.0%.

But the Philadelphia Fed Business Outlook Survey jumped to 21.8 from last month's 0.3 and views for 4.5. Nearly every component saw gains, which shows strong demand.

Today we'll a look at the consumer with the Consumer Sentiment report. Since roughly 70% of GDP comes from consumer spending, it's always important to see how the consumer is doing.

In the meantime, the economy looks great. And so does the market.

Earnings season continues with another 51 companies reporting today, and another 916 next week.

As you know, earnings season is always an exciting time for the market. Especially since stocks typically going up during earnings season.

Add in the backdrop of an historic economy and stock market, and the gains this earnings season could be even bigger.


Kevin Matras

Executive Vice President, Zacks Investment Research


Buy These Stocks BEFORE They Report Earnings

earnings estimate revisions development timeline
Next week 701 companies are set to report earnings. What if you could know in advance which few look to rock Wall Street and pop in price?

Now you can.

Zacks' proprietary "ESP" formula predicts positive earnings surprises with unthinkable 79.41% accuracy. This has led to double-digit gains in less than 1 week.

Your chance for access closes at midnight Sunday, July 21.

See Surprise Stocks Now >>

Most Popular Articles from

Look Beyond Earnings: 4 Stocks With Increasing Cash Flows

Beyond profits, a company's cash position is a better indicator of its true financial health. Read More »

5 Top Small-Cap Stocks Beating the Russell 2000 in 2019

Attractive valuations and rate cuts will likely fuel a turnaround for small caps in 2H19. Read More »

Will USTR's 25% Tariff Exemption Spell Relief for MedTech?

U.S. exemptions of some medical devices from the 25% tariff along with efforts to temporarily resume trade negotiations comes as a breather for investors. Read More »

Amazon Sees $100 Billion Opportunity in Project Kuiper

The e-commerce giant plans to launch a network of 3,236 satellites in space to create the interconnected network, which can provide high-speed Internet worldwide. Read More »

The Cheapest Zacks Rank #1 Stocks Right Now

Combining the Zacks Rank with value fundamentals, such as the price-to-earning ratio and the price-to-sales ratio, can help value investors find the cheapest top Zacks Ranked stocks. Read More »


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>>

It appears that the e-commerce giant is ready to report impressive and steady sales growth. Read More »

New Zacks Strong Buys for July 19th

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

Customize Your Profit from the Pros Delivery

Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on

Download our Zacks App for Apple iOS
Download our Zacks App for Android

Visit Success Stories to hear how Zacks research, tools and portfolios help our members outperform the market.