Back to top

View the PFP Archive

Plus New Zacks Strong Buys for Friday, August 23

Profit from the Pros

Retail Continues To Shine, But Stocks Closed Mixed Ahead Of Mr. Powell's Speech This Morning

Stocks closed mixed yesterday ahead of Fed Chair Jerome Powell's upcoming speech in Jackson Hole, Wyoming this morning.

While nobody is expecting Mr. Powell to break any new ground when he speaks at the Economic Policy Symposium, you never know.

But with so many people speculating on what the Fed's next move will be in just under four weeks from now (September 18th), everybody seems interested in what the Fed Chairman has to say, and if he'll offer any glimpse into what we can expect to hear at their next FOMC meeting.

In the meantime, the parade of strong retail results continues. Earlier this week we got beats from Walmart and Home Depot. Then Lowe's and Target. And yesterday we got positive surprises from Dick's Sporting Goods, Hormel, BJ's Wholesale, L Brands, and Nordstrom.

Retail is alive and well.

And this should come as no surprise given the strength of our economy, and the confidence and sentiment of the consumer.

Further underscoring the strength of our economy was yesterday's Weekly Jobless Claims which fell more than expected to 209K vs. estimates for 221K.

And the Leading Indicators report came in better than expected as well with a 0.5% increase vs. views for 0.2%.

The economy is doing great. But, of course, it could always do better.

If the Fed cuts rates again in September, that will give the market the added confidence it's looking for.

And that likely means an even further boost to the economy and the market.

But before that, we'll get Mr. Powell's speech in Jackson Hole, WY this morning.

Who knows what he'll say. And who knows how people will interpret it.

But right now, the odds are more than 90% that we'll see another rate cut in September.

And if Mr. Powell's comments spark some volatility – buy the dips.


Kevin Matras

Executive Vice President, Zacks Investment Research


Insider Trading Alert: Buy These Stocks Today

When in-the-know officers dip into their own pockets to buy shares of their own company, there's only one reason: They know something and expect the stock price to go up.

Zacks is now targeting insider moves that include a rare buy from two directors of a giant company in a hot industry. Even though it's already trading near a multi-year high, and even though these officers already get free shares as part of their compensation, they ponied up $882,144 to own more. Clearly, something is about to happen.

Our recommended insider trades are normally closed to public view – but you can gain access until midnight Sunday, August 25.

See hand-picked insider trades now >>

Most Popular Articles from

5 Affordable Breakout Stocks for Stunning Returns

Stocks which have breached their resistance level should ideally be in high demand. Read More »

Strong Retail Earnings Overshadow Yield Inversion: 5 Picks

U.S. consumer spending has remained robust so far in the third quarter after it rebounded in the Q2. Read More »

4 Housing Stocks to Buy as Existing Home Sales Picks Up Pace

Notable homebuilders are optimistic as they have been reporting firm demand for single-family homes. Read More »

Q2 Earnings Season Scorecard

Results have largely met expectations, with earnings growth on the weak side and positive EPS beats about in-line with historical trends. Read More »

5 Stocks to Add to Your Portfolio on New Analyst Coverage

New coverage on a stock usually reflects an encouraging future envisioned by the analyst(s). 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>>

Bull of the Day: MobileIron (MOBL)

This tech stock looks to be breaking out and will soon challenge new highs. Read More »

New Zacks Strong Buys for August 23rd

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.