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 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,
Executive Vice President, Zacks Investment Research
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.
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 May 3, 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: