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Stocks closed higher yesterday, and are on pace for their second weekly gain in a row.
Trade optimism continues to buoy the market. That goes for the phase 1 agreement between the U.S. and China. As well as hopes that the House of Representatives will bring the USMCA agreement to the floor for a vote this year. Most believe there's already enough votes in the House to pass it. And the Senate has indicated they are ready to pass it as well.
Stocks are also getting a boost from a solid start to earnings season so far. Plenty of high profile names have already beaten expectations and soared on the news. And that's likely to continue in the coming weeks as the bulk of companies get set to report.
As I've said before, since stocks typically go up during earnings season, there's lots of excitement in the market right now.
And with stocks sitting near their all-time highs, they are poised for a long-awaited breakout!
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
Next week 613 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. 4 are in the portfolio now, 1 more will be added shortly.
Zacks' proprietary "ESP" formula predicts positive earnings surprises with unthinkable 79.74% accuracy. This has led to double-digit gains in less than 1 week.
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Stocks closed higher yesterday, and are on pace for their second weekly gain in a row.
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