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
Stocks Up, Dow And S&P Hit New All-Time Highs
Stocks closed higher on Friday. And the Dow and the S&P closed higher for the week, while making new all-time highs in the process.
Strong earnings continue to underpin the market.
But the catalyst for Friday's gains appeared to be the Employment Situation Report.
Interestingly, the job gains came in sharply under expectations with 'only' 266,000 new jobs vs. the consensus for 998,000. (That came out to be 218K in the private sector and 48K in the public.) The unemployment rate ticked up to 6.1% vs. last month's 6.0% and views for a lower reading of 5.8%.
So why did the market go up? A few thoughts: for one, 266K new jobs is a solid number. It was only disappointing because everybody was expecting nearly 1M. Some believe the numbers were being held down because the unemployment benefits for some, paid more than actually going back to work. That's a short-term phenomenon. But a real concern nonetheless. Others have suggested that the report was skewed due to the seasonal adjustments since the unadjusted numbers show more than 1 million new jobs gained. And lastly, some believe the less than expected gains helps the idea that more stimulus is still needed and not less.
All interesting reasons. And while the numbers were underwhelming, there's a strong belief that this report will be revised higher in the months to come, and that job gains are only going to accelerate.
Given all of the above, it's easy to see why the market was up on the news.
Looking at the week ahead, earnings season continues with another 1,137 companies reporting this week.
We should also start hearing more debate on the size of the infrastructure package and the Families Plan package, along with the tax hikes to pay for it all.
In the meantime, the economy continues its recovery.
And that's why full-year GDP is expected to come in at the fastest pace in 36 years.
And why it looks like stocks have a lot more upside to go.
See you tomorrow,
Executive Vice President, Zacks Investment Research
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 April 5, 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 email@example.com.
Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606
Due to inactivity, you will be signed out in approximately: