We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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 individual 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
Strong Earnings Season Lifts Stocks, S&P And Nasdaq Up For The Week
Image: Bigstock
Stocks closed up on Friday, with the S&P and Nasdaq closing up for the week as well. (The Dow just missed closing up for the week by a fraction of a percent.)
Better than expected economic reports and another week of strong earnings lifted stocks. The earnings picture in particular was underscored by Thursday afternoon's blowout sales and earnings numbers by Facebook, Amazon, Apple, and Google.
Earnings season continues to roll on with another 1,841 companies reporting this week. And another 1,193 companies next week. And that's great news, as stocks typically go up during earnings season. And that's what we're seeing so far with this earning season.
It was a little disappointing that Congress wasn't able to pass a fourth coronavirus relief/stimulus bill on Friday, as that was the deadline when many people will lose their benefits that the first three packages provided. However, it was encouraging to hear that Congress will suspend their planned August recess this week so they can keep working on the bill. That shows both parties want to get something done, and that's a positive.
In the meantime, the bullish momentum for stocks continues.
We'll get a host of economic reports this week. But the main event will be Friday's Employment Situation Report.
Traders will also be paying attention to any news regarding COVID therapeutics and vaccines. Currently, there are four vaccines in advanced trials, with 160 vaccines in development worldwide, along with hundreds of possible treatments. But the game changer will indeed be a viable vaccine as that will mark the day the world can finally begin to get back to normal.
For now, stocks are benefiting from the economic reopening (bumps and all), as the pent-up economic demand has been huge.
And with analysts calling for unprecedented growth for the remainder of the year, it looks like there's a lot more upside to go.
So make sure you're taking full advantage of it.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
Our 5 best-performing strategies have blown away the S&P's impressive +44.0% gain from 2017 through Q2 2020. Amazingly, they soared +50.9%, +93.8%, +122.2, +153.0%, and even +156.8%.
Today you can access their live picks without cost or obligation.
There are plenty of companies fighting through this pandemic and reaching new highs again without waiting for a vaccine or "all clear" from the CDC. Read More »
Despite all the fear and uncertainty, the earnings season is turning out to be much better than feared, with estimate revisions for the third quarter of 2020 and beyond continuing to move up. Read More »
Impressive performances by big tech players and several other companies in this sector indicate its inherent strength and growth potential. Read More »
Before you make a trade, get today's market news from Zacks' latest Ahead of Wall Street article. With timely information from Zacks analysts, each daily article features a preview of where the market is headed. Plus, Zacks #1s on the move, stock research reports, earnings and economic news, and a top-headline analyst blog. All of it in one easy-to-follow place to give you the edge.
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 July 6, 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
Due to inactivity, you will be signed out in approximately:
