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
Stocks Up For The Week, Nasdaq Hits Another New All-Time High
Image: Shutterstock
Stocks closed mixed on Friday with the Dow and the S&P in the red, while the Nasdaq (which made another new all-time high and close), and small-cap Russell 2000 were in the green.
But all of the major indexes were up for the week.
Talk of more stimulus continues to be supportive. And it looks like the House is set to vote on the $1.9 trillion proposal in February.
Strong earnings have also been supportive. Lots of big banks and financial companies posted impressive numbers last week. Finance will be in the spotlight again this week, along with big marquee names like Apple, Microsoft, Tesla, Facebook, and Johnson & Johnson to name a few. In total we'll get 573 companies reporting earnings this week, and another 808 next week.
Earnings season is always an exciting time since stocks usually go up during earnings season.
In other news, the PMI Composite Flash report on Friday came in at 58.0 vs. last month's 55.7 and views for 55.5. Manufacturing rose from 56.5 to 59.1, while Services rose from 55.3 to 57.5.
And Existing Home Sales came in better than expected at 6.760 million units (annualized) vs. last month's upwardly revised 6.710M and the consensus for 6.550M. That's a 14-year high, and not surprisingly, comes on the heels of a 14-year high for both Housing Starts and Permits as well.
The market is also cheering the news that more big cities have announced an easing of restrictions on businesses, allowing more to open up. That's great news for struggling businessowners, employees, and the economy as a whole.
And that suggests an even stronger Q1 GDP, and full-year GDP, which is already forecast to grow at the fastest pace in 38 years.
2021 is off to a great start. And it looks like there's a lot more upside to go.
So make sure you're taking full advantage of it.
Best,
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.
Despite prevailing uncertainties, players in the industry are gaining from healthy growth in e-commerce and manufacturing activities, and innovation. Read More »
We are off to a great start in the Q4 earnings season, with a historically high proportion of the reporting companies not only beating consensus EPS and revenue estimates, but also providing positive guidance and commentary. 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 January 4, 2021. 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:
