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Profit from the Pros By Kevin Matras Executive Vice President
Stocks Up Again, Nasdaq Sets New Record Close
Image: Bigstock
Stocks closed higher again yesterday with the Dow, S&P and Nasdaq all finishing in the green, while the Nasdaq put in a new all-time high close! The only laggard was the small-cap Russell 2000 which finished in the red.
A strong growth outlook and strong earnings season continues to underpin stocks.
But yesterday morning started off with a surprise increase in Weekly Jobless Claims which rose 51,000 to 419K vs. views for a decrease to 350K. Although, the smoother 4-week moving average was mostly in line with expectations at 385,250.
Existing Home Sales were up, coming in at 5.860 million units (annualized) vs. last month's report of 5.780M.
And the Kansas City Fed Manufacturing Index came in at 30 vs. last month's 27.
We also saw plenty of big beats on the earnings front as well.
Earnings season is off to a great start. But it really kicks into gear next week with 1,174 stocks set to report. And even more the week after that with another 1,858 companies.
It won't take much for the major indexes to finish up for the week.
With a little extra push, we could even see new highs.
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
The Executive Vice President of Zacks Investment Research, Kevin Matras, is very optimistic about our country's financial future. As the economy continues to grow stronger, he expects stocks to soar far higher right through the market blips and dips.
But what's the key to being successful? Knowing the right strategies and where to find stocks that will lead the market.
For a limited time, Kevin is offering his hardcover book, Finding #1 Stocks, absolutely free. In the book, he shares exclusive secrets to picking stocks, including the exact formulas of strategies that produced gains of 130.5%, +381.1%, and even +580.6% from 2016 through 2020.
This brief opportunity will end at midnight Saturday, July 24 or when inventory is depleted. Don't miss your chance to get an edge in the game.
Catch breaking news on your stocks and funds at a glance, including timely recommendation changes ... Zacks Ranks ... Industry Ranks ... earnings announcements ... earnings estimate revisions ... and more. And now you can screen for new stocks to improve portfolio performance.
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »
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