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
  

Stocks Rack Up Historic Election-Week Gains, Markets Hope To Extend That This Week

Stocks closed mostly lower on Friday, but soared for the week with the Dow up 6.87%, the S&P up 7.32%, and the Nasdaq up 9.01%.

It was one of the best post-election rallies ever. And when combined with the week's pre-election rally, it made for an overall historic election-week performance.

And with stocks looking poised for an upside breakout, we could see a lot more upside to go.

The strong economic recovery continues on. And that was on full display with Friday's better than expected Employment Situation report which showed the U.S. economy added 638,000 new jobs last month vs. estimates for 600,000. We also saw the unemployment rate decline from 7.9% to 6.9%, even while the participation rate increased from 61.4% to 61.7%. In addition, we saw the previous month's tally of 661K new jobs get upwardly revised to 672K.

It was another great jobs report and shows just how strong the economy has been bouncing back.

And after Q3's unprecedented GDP growth, and forecasts for a strong Q4, not to mention expectations for 2021 to have the strongest full-year GDP in 38 years, you can see why stocks have been rallying, and why it looks like they will continue to do so.

Let's also not forget about earnings season. It's been doing great. And that should come as no surprise given how strong Q3 GDP was. We have another 1,352 companies reporting earnings this week.

And lastly, there's still hope for another coronavirus stimulus package by year's end.

We've got an amazing rally underway. And we could see that extended this week.

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

Best,

Kevin Matras

Executive Vice President, Zacks Investment Research

Sponsor

Why Haven't You Looked at Zacks' Top Stocks?

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.

See Stocks Free >>

Most Popular Articles from Zacks.com

Image: Bigstock

3 Stocks to Profit from the Comeback in Internet Software & Services

While most players in this industry are yet to report third quarter results, there are signs of a big bounce-back appearing. Read More »

Image: Shutterstock

Buy These 4 Cheap Stocks from Attractive Industries

If an industry is in expansion mode, constituent companies will also exhibit strong growth characteristics. Read More »

Image: Bigstock

3 Stocks to Watch Closely for Superb Earnings Acceleration

We selected stocks which last two quarter-over-quarter percentage EPS growth rates exceeded the growth rates of previous periods. Read More »

Image: Bigstock

Tech Leadership Reflects Earnings Power

The technology sector is by far the biggest contributor of earnings to the S&P 500 index. Read More »

Image: Bigstock

Here's Why Healthcare ETFs Are Rallying Post Elections

Easing worries regarding major policy changes are driving the relief rally in the healthcare and biotech spaces. Read More »

Sponsor

Start Every Day Ahead of Wall Street

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.

Get the latest news >>

Image: Bigstock

Bull of the Day: Tapestry (TPR)

This retailer has staged a huge recovery amid the coronavirus pandemic. Read More »

New Zacks Strong Buys for November 9th

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 October 5, 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