You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Profit from the Pros By Kevin Matras Executive Vice President
Nasdaq Hits New All-Time High Close Ahead Of Today's Employment Report
Stocks closed mostly higher yesterday. Great week so far for the markets. And that comes on the heels of the best quarter in decades (and for the Nasdaq, the best quarter in 33 years). The Nasdaq also recorded a new all-time high close yesterday.
In spite of the increase in coronavirus cases, which has slowed reopening plans in several states, the gains we're seeing in the economy, even with the reopening pains, continues to push stocks higher.
We've had a litany of strong economic reports in the last several weeks. And that list was added to with yesterday's ISM Manufacturing Index which showed a 22.0% increase over last month, while the PMI Manufacturing Index showed a 25.1% increase.
We also got a bullish ADP Employment report which estimated 2.369 million private payroll jobs being created in June, while sharply revising May's report up from -2.760 million to +3.065 million.
The ADP report is often considered a precursor to the official Employment Situation report which comes out two days later (but will be out today given the day off on Friday). While the reports can vary widely from one another, the positive jobs estimate by ADP bodes well for today's report. The official headline consensus is for 3 million jobs (2.660 million in the private sector and 340K in the public), with the unemployment rate ticking down again from 13.3% to 12.4%.
We'll also get Weekly Jobless Claims, International Trade, Motor Vehicle Sales, and Factory Orders. But the Employment report is the main event.
By the way, yesterday marked the official start of the USMCA (U.S.-Mexico-Canada Agreement), which replaces the old North American Free Trade Agreement (NAFTA).
With Mexico and Canada the #1 and #2 trading partners of the U.S., the USMCA deal, in many ways, is bigger and more important than the Phase 1 trade deal with China (our #3 largest trading partner).
It was also great to hear that Pfizer (in partnership with BioNTech), reported positive results on their potential vaccine yesterday. The findings were preliminary. And there's still lots of work to do. But the market cheered the news (as premature as it might be), since a successful vaccine (whenever that comes), would be the key for the country and the world to fully get back to normal.
Don't forget, Moderna is working on a vaccine as well, and reported positive results from a Phase 1 clinical trial back in May. And AstraZeneca is working on a vaccine too.
Sooner or later, somebody will get it done. And that will be a day to remember.
In the meantime, the economic recovery is underway. We're seeing huge pent-up demand being unleashed. And that's why stocks have been on the move.
And with the expansion continuing, bumps and all, it looks like there's a lot more upside to go.
So make sure you're taking full advantage of it.
That means getting into the right stocks and staying out of the wrong ones.
Even though we are in a confirmed bull market, not all stocks are created equal.
There have been, and will continue to be, plenty of tried and true names leading this market. But there will also be plenty of new names that many people may not have even heard of before. Because the virus outbreak, and the upheavals it's brought about for businesses and consumers, will change large portions of our economy. And the companies that can adapt will thrive and become new market leaders, while those that can't will suffer. To learn how to determine which is which, be sure to read our latest commentary...
Four experts each announce their single favorite stock with the best upside for what looks to be a record-setting Q3. One is a music streaming service that's immune to the pandemic with hundreds of millions of virtual users, 4 strategic acquisitions, and a huge new celeb licensing deal.
Last quarter's Ultimate Four generated gains of +83.7%, +34.2%, +24.2%, and +56.4%. Q3's picks could skyrocket even higher.
Today, download the private Special Report that names these stocks, and spotlights their exceptional gain potential as pent-up economic demand continues to release.
Use the Zacks Mutual Fund Rank, a quantitative ratings system designed to help you find the best funds to beat the market. See which ones to buy, which to sell and track your favorite mutual fund family.
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.
Visit Success Stories to hear how Zacks research, tools and portfolios help our members outperform the market.
Get all of our market insights and much more when you connect with us.
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 firstname.lastname@example.org.
Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606
Due to inactivity, you will be signed out in approximately: