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S&P And Nasdaq Finish Higher For The Second Week In A Row
Stocks closed lower on Friday, but mostly higher for the week. This was the 2nd weekly gain in a row for the S&P and the Nasdaq. The Dow just missed out as it was dragged down by outsized losses from Boeing and Johnson & Johnson.
But continued trade optimism and a strong start to earnings season underpinned the rest of the market last week.
While the expected U.S. tariffs on $7.5 billion of EU goods went into effect on Friday, those numbers are dwarfed by the hundreds of billions that were once bandied about with China, and likely the reason for the market's muted response.
And since everything is taking place against a backdrop of a strong economy, a record jobs market (lowest unemployment in 50 years), near record consumer confidence, and low interest rates, the market appears ready to move up at any time.
That could come this week as 801 companies are on deck to report earnings. Or next week as another 680 companies are set to report, and the Fed meets on interest rates amid the prospect of another interest rate cut.
The second half of October looks like it could be an explosive one.
And with stocks sitting near their all-time highs, it won't take much for an upside breakout. And that should lead to bigger gains to follow.
So make sure you're taking full advantage of this historic economy and historic market.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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From 613 companies reporting earnings this week, Zacks' breakthrough formula has isolated 6 standouts.
They are 79.74% likely to surprise Wall Street and beat earnings. This can lead to price pops with double-digit gains in less than one week.
One of these special stocks is being posted this very day so you can be in the first wave of investors to take advantage.
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Stocks closed lower on Friday, but mostly higher for the week. This was the 2nd weekly gain in a row for the S&P and the Nasdaq. The Dow just missed out as it was dragged down by outsized losses from Boeing and Johnson & Johnson. 
