See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Align Technology, Inc. (ALGN) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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 individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Align Technology, Inc. (ALGN) - free report >>
Image: Bigstock
A Running of the Bulls: Market Strategy
Summer is peaking. The lousiest start for stocks in a New Year on record has reversed. The S&P500 finally broke out of a tight mid-2016 range. The S&P500 passed (in mid-July) its all-time high seen in June 2015.
This index technical is very important to bulls.
The 12-month forward look on earnings growth matters in mid-Summer. Consensus sees +0.8% in annual S&P500 EPS growth for 2016 and a hockey stick +13.4% for 2017. In 2015, the S&P500 saw -1.1%. In 2014, it saw +4.8%.
The latest June ISM surveys say it all. The U.S. economy has stayed on track.
(1) U.S. manufacturers grew in June at the fastest pace in 15 months, signaling a clear if modest uptrend after a bout of extended weakness.
(2) On top of that, economic activity in the non-manufacturing sector grew in June for the 77th consecutive month.
(3) If it is my guess, the U.K. Brexit event will be a non-event for U.S. consumers.
(4) However, for firms and banks, Brexit will delay any inward investment into the U.K. by U.S. and non-U.S. groups alike.
Yes, the U.S. remains in expansion. Recent monthly labor market evidence emerged conclusive. The U.S. created +287K jobs in June, bouncing back, after adding just +11K new jobs in May. June was the biggest job addition this year.