Back to top

View the PFP Archive

Plus 5 New Strong Buys for Today
Kevin Matras   
Profit from the Pros
By Kevin Matras
Executive Vice President 		Zacks Investment Research
  

Nasdaq Extends Winning Streak To 5 Days In A Row

Stocks closed mostly higher yesterday with the Nasdaq extending their winning streak to 5 days in a row.

Second-wave virus concerns continue, but everybody knew there would be an increase once we reopened. Nonetheless, nobody is talking about any undue stress on the healthcare system. Nor is anybody talking about a return to lockdown mode if cases continue to rise.

In fact, more and more states and cities are expanding their reopening. And that includes New York City, which enters Phase 2 of their reopening on Monday.

In the last couple of weeks we've gotten a plethora of great economic reports beginning with the previous week's Employment Situation Report which showed 2.5 million jobs gained vs. expectations for -7.7 million jobs lost.

Earlier this week, on Monday, was the Empire State Manufacturing Survey, which came in well above expectations.

Then on Tuesday, Retail Sales jumped 17.7% (the biggest monthly gain ever). And the Housing Market Index surged 56.8%, also the biggest monthly gain ever.

On Wednesday, MBA Mortgage Applications rose 8.0% w/w, with the Purchase Index up 4.0% and Refi's up 10.0%. Mortgage demand is now at an 11-year high. Housing Starts rose as well gaining 4.3% m/m. And Housing Permits jumped 14.4%, which points to another gain in housing starts again next month.

And then yesterday, Weekly Jobless Claims declined again for the 11th weekly drop in a row. The Philadelphia Fed Business Outlook Survey came in way above expectations at 27.5 vs. last month's -43.1 and views for -22.7. And the Leading Indicators report increased by 2.8%, up from last month's -6.1% and views for 1.7%.

As the economic expansion continues, we should be getting a lot more of these types of reports.

And that points to even more gains in stocks.

So make sure you're taking full advantage of it.

Best,

Kevin Matras

Executive Vice President, Zacks Investment Research

Sponsor

Time's almost up! Get your FREE copy of Finding #1 Stocks

The Executive Vice President of Zacks, Kevin Matras is very optimistic about our country's financial future. He expects the stock market to soar as coronavirus-related fear diminishes and pent-up economic demand is unleashed when the pandemic subsides.

What's the key to being successful? Knowing the right strategies and where to find stocks that will lead the market when it rebounds.

For a limited time, Kevin is offering his hardcover book, Finding #1 Stocks, absolutely free so you can be in the best position as stocks begin to rise. In the book, he shares exclusive secrets to picking stocks including the exact strategies that produced gains of +118.0%, +175.7%, and even +186.7% from 2017 through 2019.

This brief opportunity will end at midnight Saturday, June 20th or when inventory is depleted. Don't miss your chance to get an edge in the game.

Get your free book now  >>

Most Popular Articles from Zacks.com

Image: Bigstock

Hardware Market Gains Traction on Cloud Business: 5 Winners

With the at-home culture here to stay, demand for computer hardware and network software will increase driven by the expansion in the cloud space. Read More »

Image: Bigstock

Buy These 4 Big Drugmakers to Keep Coronavirus Woes at Bay

The pharma and biotech sector is considered a defensive space as it is not much impacted by a recession. Read More »

Image: Bigstock

Scoop Up 5 Stocks That Tap the Packaged Food Industry Upturn

Demand for packaged food and beverages is witnessing a sharp increase as lockdown prompted shoppers to panic buy all packaged food items. Read More »

Image: Bigstock

5 Dirt Cheap Stocks to Buy Now

These companies not only have low P/E and P/S ratios, they are also Zacks Rank #1 (Strong Buy) stocks. Read More »

Image: Bigstock

Restaurant Industry Banks on Off-Premise Sales Amid Pandemic

The industry is benefiting from robust off-premise sales. However, traffic decline woes have intensified due to the pandemic. Read More »

Sponsor

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>>

Image: Bigstock

Bull of the Day: Wayfair (W)

Is 2020 a turning point for this online retail king? Read More »

New Zacks Strong Buys for June 19th

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

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 Zacks.com.
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.

This free resource is being sent by Zacks.com. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through June 1, 2020. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed above.

Zacks Emails
If you would prefer to not receive future profit-producing emails from Zacks.com the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please click here and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com.

Zacks Investment Research
10 S. Riverside Plaza, Suite 1600
Chicago, IL 60606