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Stock Market Roundup Feb. 1: Fed Keeps Rates Unchanged as Apple (AAPL) Soars
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On Wednesday, U.S. stocks closed mostly higher as the Federal Reserve kept interest rates unchanged, a widely-expected move among investors. The Federal Open Market Committee kept its benchmark overnight lending rate at 0.50% to 0.75%.
Apple (AAPL - Free Report) was one of the biggest movers, trading around 7.5% at one point Wednesday after reporting very strong first quarter earnings data yesterday after the bell. The tech giant beat expectations on both the top and bottom lines, as well as smashing iPhone sales estimates.
Super Bowl Sunday is just a few days away, and many Americans are gearing up for the second biggest food and drink consumption event behind Thanksgiving. According to statistics gathered around last year’s Big Game, Americans drink an insane amount of beer, and eat even more insane amounts of food.
Cree Inc. is cashing in on the Internet of Things. It’s known for making LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. This Zacks #1 (Strong Buy) recently beat the Zacks Consensus Estimate for the second quarter in a row, and with its strong momentum going forward, Cree is the Zacks Bull of the Day.
Markets notched up another month of gains following the release of positive economic data and encouraging corporate earnings. The euphoria around Trump’s election helped stocks increase over a large part of the month. However, his pronouncements since assuming office have heightened concerns among investors.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Stock Market Roundup Feb. 1: Fed Keeps Rates Unchanged as Apple (AAPL) Soars
On Wednesday, U.S. stocks closed mostly higher as the Federal Reserve kept interest rates unchanged, a widely-expected move among investors. The Federal Open Market Committee kept its benchmark overnight lending rate at 0.50% to 0.75%.
Apple (AAPL - Free Report) was one of the biggest movers, trading around 7.5% at one point Wednesday after reporting very strong first quarter earnings data yesterday after the bell. The tech giant beat expectations on both the top and bottom lines, as well as smashing iPhone sales estimates.
Zacks Rank #1 (Strong Buy) Biggest Movers
Value: Wabash National Corp. (WNC - Free Report)
Growth: Spark Energy
Momentum: SPKE
VGM: WNC
Income: WNC
Major Indexes
DOW: 19,888.57 / +24.48 / +0.12%
S&P 500: 2,279.43 / +0.57 / +0.03%
NASDAQ: 5,642.65 / +27.86 / +1.36%
Top Headlines
Do Americans Really Drink 325 Million Gallons of Beer on Super Bowl Sunday?
Super Bowl Sunday is just a few days away, and many Americans are gearing up for the second biggest food and drink consumption event behind Thanksgiving. According to statistics gathered around last year’s Big Game, Americans drink an insane amount of beer, and eat even more insane amounts of food.
Bull of the Day: Cree
Cree Inc. is cashing in on the Internet of Things. It’s known for making LED lighting systems and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and RF devices. This Zacks #1 (Strong Buy) recently beat the Zacks Consensus Estimate for the second quarter in a row, and with its strong momentum going forward, Cree is the Zacks Bull of the Day.
5 Best Performing Stocks of January
Markets notched up another month of gains following the release of positive economic data and encouraging corporate earnings. The euphoria around Trump’s election helped stocks increase over a large part of the month. However, his pronouncements since assuming office have heightened concerns among investors.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>