On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into the latest U.S.-China trade war news that could see the world’s two largest economies roll back tariffs. Then we turn our attention to third-quarter earnings results from the likes of Qualcomm (QCOM - Free Report) , Square (SQ - Free Report) , and others. And we close with a look at why Yeti Holdings, Inc. YETI is a Zacks Rank #1 (Strong Buy) stock right now.
Stocks have started November on a tear, with all three major U.S. indexes at yet another set of new highs Thursday amid U.S.-China Trade war news out of Beijing. A Chinese Commerce Ministry spokesman said that China and the U.S. would agreed to lift some tariffs if they sign the so-called “phase one” trade deal.
Moving on, Wall Street has now seen more than 400 S&P 500 members post their quarterly financial results. Qualcomm jumped Thursday as investors seem pleased with its 5G future, while Square stock popped on subscription, services, and Cash App strength (also read: The Evolving Earnings Picture).
Tech-focused travel companies, Expedia (EXPE - Free Report) and Trip Advisor (TRIP - Free Report) , were not as lucky. Meanwhile, Ralph Lauren (RL - Free Report) shares surged.
Looking ahead, all eyes will turn to Disney (DIS - Free Report) Thursday after the closing bell as it prepares to roll out its streaming TV service to compete against Netflix (NFLX - Free Report) , Amazon (AMZN - Free Report) , and Apple (AAPL - Free Report) .
Next week, beaten-down marijuana stocks Cronos Group CRON, Aurora Cannabis (ACB - Free Report) , Tilray TLRY, and Canopy Growth (CGC - Free Report) all report their quarterly results.
This episode of Free Lunch then closes with a look at why Yeti is a Zacks Rank #1 (Strong Buy) stock. The cooler company has expanded its portfolio and has seen its stock price climb alongside other high-end retail brands such as Lululemon (LULU - Free Report) .
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