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 Soar, Erasing Monday's Pullback

Stocks closed sharply higher yesterday, with most of the indexes erasing Monday's decline and then some.

The same concerns that led to Monday's drop, are the same concerns that led to yesterday's surge.

The two 'concerns' continue to be inflation, and worries over renewed pandemic lockdowns slowing the economy.

Once again, the hotter than preferred inflation is considered to be transitory.

And while traders have begun to worry that a rise in Covid cases could slow the economic recovery, full-year GDP is already expected to come in at 7.0%, which would be the fastest pace in 37 years.

And Congress will soon be taking up the infrastructure bill along with other domestic spending bills totaling roughly $4 trillion. Who knows what will pass. But something is likely to make it thru eventually. And that's a lot of extra money that will get pumped into the economy. So I would not be too worried over the growth prospects.

Simply put, on Monday the glass was half empty. On Tuesday it was half full.

Speaking of Congress, the Senate is expected to vote on opening debate on the infrastructure bill today. There's been plenty of speculation on whether that will go thru or not. We shall see.

In other news, yesterday we got the Redbook report which showed same store retail sales up 15.0% y/y, up from last week's snapshot of 14.0%.

We also got the Housing Starts and Permits report. Starts jumped to 1.643 million units (annualized) vs. last month's 1.546M and views for 1.590M. Although Permits came in at 1.598M vs. last month's 1.683M and views for 1.700M.

We'll get a look at MBA Mortgage Application today.

And the market will have its hands full with more earnings.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research


8 Stocks for the EV Boom

Louis Navellier is one of the most iconic tech investors of the decade, finding Apple at $1.49... Oracle at 51 cents... and Microsoft at 38 cents.

And today he's releasing he's naming his 8 favorite EV stocks to own for the $5 trillion EV revolution.

Just click here to claim your free report today.

Most Popular Articles from

Image: Bigstock

Inflation's Not the Enemy: Focus on Long-Term Objectives Instead

Since traditional inflation hedges are getting more expensive by the day, it may make much more sense to play more lasting trends. Read More »

Image: Bigstock

5 Dirt-Cheap Stocks Set to Report Triple-Digit Earnings Growth

We selected stocks with a lower P/E than the industry average and a triple-digit estimated earnings growth rate. Read More »

Image: Bigstock

3 Stocks to Watch As Demand for Ready-to-Drink Alcohol Soars

The RTD market looks set for a boom period as consumers become more health conscious and prefer the convenience of these beverages. Read More »

Image: Bigstock

5 Blue-Chip Stocks Poised to Beat Earnings Results This Month

Each of these stocks carries a Zacks Rank# 2 (Buy) or 3 (Hold) and has a positive Earnings ESP. Read More »

Image: Bigstock

Here's Why You Should Invest in Water ETFs

Investing in water is a looking like a good long-term bet for environmentally focused investors. Read More »


Get Your Free Copy of Finding #1 Stocks - A $49.95 Value

Starting today, you can claim a free copy of Finding #1 Stocks by Zacks' EVP Kevin Matras. You don't even have to pay for shipping! Its 300 pages unfold virtually every trading secret he has learned over the last 25 years to beat the market. Here's what's inside:

  • Exact formulas of strategies that produced gains up to 130.5%, +381.1%, and even +580.6% from 2016 through 2020…
  • How to spot bullish set-ups and bearish break-downs to stay ahead of the market…
  • Traits to determine the type of trader you are and finding stocks with highest probability of success…
  • Kevin's personal all-time favorite screening strategy…
  • And much more!

This limited-time offer will end Saturday, July 24 or when our inventory is depleted. Don't miss this unique opportunity.

Get your FREE book now  >>

Image: Bigstock

Bull of the Day: Levi Strauss & Co. (LEVI)

This iconic denim retailer proved it has what it takes to grow in any market environment. Read More »

New Zacks Strong Buys for July 21st

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

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.