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
S&P Makes New All-Time High Close
Stocks closed mostly higher yesterday with the S&P now up for the 6th day in a row, and notching a new all-time high close in the process.
The Dow was up too, making a new all-time intraday high, before finishing just under its record close from August.
Strong earnings continue to rally stocks. As you know, stocks typically go up during earnings season. And with earnings season having just begun, we've got another handful of weeks to go.
In other news, MBA Mortgage Applications slipped -6.3% w/w, with the purchase index down -5.0%, and refi's down -7.0%.
The Fed's Beige Book report showed an economy that continues to rebound, albeit at a bit of a slower pace. The report said that "outlooks for near-term economic activity remained positive, overall, but some districts noted increased uncertainty and more cautious optimism than in previous months." This was attributed to supply-chain disruptions, worker shortages, and earlier fears around the delta variant.
The report also went on to highlight that the continued rise in consumer spending was a bright spot. Same for the rise in manufacturing activity.
Fortunately, with efforts underway to ease supply disruptions, and with the labor force expected to grow, this should increase economic output while simultaneously helping to reduce inflation.
And with falling covid cases, the economy can accelerate its return back to something closer to normal.
After the close, the FDA authorized Moderna and Johnson & Johnson to offer booster vaccine shots. They also said that people can get their booster shots from different vaccine manufacturers than their original shot.
Between falling cases, more vaccinations, and several covid therapeutics in the pipe to treat Covid if you get it (Merck already has a drug, but is waiting on FDA's approval, or at least emergency use authorization), the pandemic should become less and less of an issue as we move forward.
In the meantime, with stocks trading at or near their all-time highs, it won't take much to send them even higher.
And with full-year GDP growth expected to come in at the fastest pace in 37 years, not to mention the prospect for even more stimulus money to be injected into the economy, it looks like there's a lot more upside to go.
So now is the time to start preparing for it. And to do so, be sure to read our latest commentary...
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, October 23 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 October 4, 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: