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The Fed's Next Move, Apple & Facebook Earnings & Buy DG Stock - Free Lunch

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On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains discusses what the U.S. Federal Reserve might do next after it cut interest rates Wednesday. The episode then dives into some U.S.-China trade war updates, as well as quarterly earnings results from Apple (AAPL - Free Report) and Facebook (FB - Free Report) . And we end with a look at why Dollar General (DG - Free Report) is a Zacks Rank #1 (Strong Buy) right now.

The S&P 500 jumped to its second record close of the week Wednesday after the Fed cut its benchmark interest rate for the third time since July. However, Fed Chairman Jerome Powell didn’t lay out any concrete future plans, as Wall Street has come to expect.

Meanwhile, President Trump tweeted Thursday that the U.S. and China are searching for a new location to sign the so-called “phase one” trade deal.

Aside from rate cuts and trade war updates, third-quarter earnings season continues to hum along. Coffee giant Starbucks (SBUX - Free Report) stock climbed after-hours Wednesday on solid sales.

Yet, Apple stole the spotlight after the iPhone power posted stronger-than-projected results, just before it debuts its streaming TV service to challenge Netflix (NFLX - Free Report) and Disney (DIS - Free Report) .

Facebook stock also climbed as the social media firm continues to add users at a solid rate amid all of the negativity.

Now, with all of the so-called FAANG stocks having reported their quarterly results, along with Microsoft (MSFT - Free Report) , Wall Street will turn its attention to Alibaba (BABA - Free Report) and Uber (UBER - Free Report) .

Thursday’s episode of Free Lunch then closes with a look at why discount retailer Dollar General is a Zack Ranks #1 (Strong Buy) stock heading into the holiday shopping season. The firm has stood out in the Amazon (AMZN - Free Report) age as the likes of Walmart (WMT - Free Report) , Target (TGT - Free Report) , and others prove they are ready to thrive.

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