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Plus New Zacks Strong Buys for Thursday, February 27
Profit from the Pros By Kevin Matras Executive Vice President
Coronavirus Uncertainty Remains, Markets Try To Assess Economic Impact
Stocks closed mostly lower yesterday, but the Nasdaq managed to eke out a small gain.
The major indexes staged a nice intraday rally, but gave it back by the close as the coronavirus uncertainty has gripped the market.
Microsoft was the latest high profile company who came out after the close saying they would miss their revenue guidance as their supply chain is "returning to normal operations at a slower pace than anticipated" after the coronavirus created disruptions.
This follows Apple's warning a week ago. But it should also be noted that Apple has begun reopening some of their stores in China. That's a sign that some normalcy is beginning to return to China.
It's also worth mentioning that while the coronavirus is spreading outside of China, the epidemic, according to the World Health Organization (WHO), appears to have peaked in China, which is the epicenter of where it all began.
But in spite of the coronavirus worries, our economy remains in great shape. In fact, it's the envy of the world with a strong GDP, 50-year low unemployment, 20-year high in household income, and near record high consumer sentiment.
Let's also not forget two record trade deals with our top 3 trading partners that are poised to usher in a wave of new growth and prosperity.
And when the worst of this outbreak is finally behind us, stocks are expected to soar as pent-up economic demand is unleashed.
While I wouldn't be surprised to see some additional volatility, I'd definitely be a buyer on any further dips, because it looks like there's a lot more upside to go.
So make sure you take full advantage of this pullback.
That means getting into the right stocks and staying out of the wrong ones.
If you're looking for new stocks to buy with big upside potential, be sure to read our latest commentary on insider trading (the legal kind). When top executives at companies are buying more shares, or when large numbers of executives are making new purchases, that can send a powerful signal that something good is happening to that company and will likely happen to that stock. And that can translate to big gains.
To learn more about this type of insider trading and how you can benefit from it, please check out our latest commentary...
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Scared about the stock volatility due to coronavirus fears? It pays to listen to what legendary investors are doing during these rocky times. Read More »
For an extremely limited time, we are proud to offer a 1oz. American Silver Eagle coin completely FREE (just pay for shipping & handling). This same coin sells for more than $20 online, but you can get one right now, for FREE, just pay for shipping and handling. Share the pride of ownership and demonstrate your support for our country (and not to mention get an amazing deal) with this FREE 1oz. American Silver Eagle coin.
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »
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Stocks closed mostly lower yesterday, but the Nasdaq managed to eke out a small gain.
