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Profit from the Pros By Kevin Matras Executive Vice President
Stocks Up As Growth Outlook And Earnings In Focus
Stocks closed higher yesterday with both the Dow and the S&P making new intraday highs. But they had to settle for only their second-highest close.
Once again, a positive outlook on the economy continues to underpin the market.
Although, yesterday's Q2 GDP report came in under expectations at 6.5% vs. expectations for 8.0%.
While supply chain disruptions and worker shortages have been cited as reasons for higher (temporary) levels of inflation, they can also be partly to blame for the less than expected Q2 GDP growth. But again, the aforementioned issues are transitory.
When should those problems subside? Likely in a couple of months. Extended unemployment benefits will be ending in September, and many of those incentivized to stay home will be 'forced' to return to the workforce. And that will begin to bring relief to both supply shortages and worker shortages while simultaneously easing inflation concerns as well.
We'll get another look at the economy today with the Personal Income and Outlays report, the Chicago PMI, and Consumer Sentiment.
And we'll get more earnings as well with another 147 companies on deck to report today. And another 1,895 next week.
Today is also the last trading day of July. It's been a great month so far. And a great year so far with the Dow already up 14.6%, the S&P up 17.7%, the Nasdaq up 14.7%, and the Russell 2000 up 13.4%.
And there's still 5 more months left. And it looks like there's a lot more upside to go.
So make sure you're taking full advantage of it.
Executive Vice President, Zacks Investment Research
There's still time to get in on our 5 Stocks Set to Double. Each is the single favorite of a Zacks expert with the best chance to gain +100% and more in the months ahead:
1. This small-cap's +630% growth in one year outpaced its booming industry nearly 8X over. Thousands of products and soaring revenue portend a continuing growth explosion.
2. Scandal involving a key officer had nothing to do with an exciting disease therapy that has rolled to Phase 2 trials. Looking for a massive turnaround.
3. Semiconductor company has a backload of orders, a huge divergence of price and earnings, and a roadmap for expansion.
4. Restaurant's earnings growth rate is predicted to more than double this year. Locations and retail sales are multiplying. Stock's up too, but not nearly in line with the rampant growth.
5. Homebuilding is on fire, but where to invest? One strong stock pulled back a little. Time to get aboard. Sales prices and volume up, costs down = more profits for investors.
Deadline to download this just-released Special Report is midnight Sunday, August 1.
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