On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains updates you on the global economic picture, which might have just been lifted after some positive U.S.-China trade war news. The episode also takes a look at what to expect from Cisco (CSCO - Free Report) and Macy’s (M - Free Report) earnings, before diving into why RH is a Zacks Rank #1 (Strong Buy) stock.
U.S. stocks fell once again Monday, but the Dow, the S&P 500, and the NASDAQ all bounced back in a big way Tuesday after the U.S. Trade Representative released a statement that said it would delay and remove some of the items from the roughly $300 billion of Chinese imports that were set to face new 10% tariffs on September 1. The announcement helped shares of retailers and many Dow components surge, including Best Buy (BBY - Free Report) , Apple (AAPL - Free Report) , Nike (NKE - Free Report) , Caterpillar (CAT - Free Report) , and Walmart (WMT - Free Report) .
Still, global economic worries remain. Gold rose to a six-year high Tuesday morning amid continued political unrest in Hong Kong and a massive one-day drop in the main stock market in Argentina. Therefore, investors need to remain focused on any and all economic indicators and news.
This includes what to expect from Cisco and Macy’s, which are both set to release their quarterly financial results Wednesday. We then close out this episode of Free Lunch with a look at why RH (RH - Free Report) , formally Restoration Hardware, is a Zacks Rank #1 (Strong Buy) stock.
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