Stocks Erase Previous Day's Gains, But Close Well Off Their Lows

Profit from the Pros Stocks Erase Previous Day's Gains, But Close Well Off Their Lows Tough day in the markets yesterday with all of the major indexes in the red. Nothing of any great importance. Was just disappointing to see Tuesday's rebound erased. But stocks closed well off of their lows. So that was very encouraging. There was plenty of optimism heading into Wednesday, but that was quickly dashed after Turkey said it would levy new tariffs on US goods in retaliation for the US sanctioning them for holding American citizens. It was an unfortunate development. But the optics are far worse than any impact, especially since Turkey's GDP is less than 5% of the United States. Nonetheless, the market would prefer all of these tariffs to go away. But for now, this is the environment we're in. Fortunately, the US economy is in the best position to weather any financial hiccups. And at worst, that's all it is. In other news, Retail Sales increased by 0.5% m/m, beating expectations for just 0.1%. The Empire State Manufacturing survey came in at 25.6, up from last month's 22.6. Analysts note that 'new orders continue to pour in'. And Business Inventories rose 0.1%. This was expected. But with sales up 0.3%, this is a very positive report. In fact, on a y/y basis, inventories are up 4.0% while sales have grown by more than twice as much at 8.2%. More good news on the economy. And that translates to good news for the market as well. Meantime, buy the dips. Stay in the best stocks. And focus in on the best industries. One industry in particular that has been a leader this year is tech. Industrial demand for tech-related products has never been stronger, consumers are spending more on tech in all areas of their lives, and tech companies are coming up with new innovations all the time. Some of the biggest gains this year have been in tech and that trend looks like it will continue. If you're wondering if now is the right time to get into tech, the answer is yes. To learn why, please read our latest commentary... [Is Now The Right Time To Get Into Tech?]( Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Canada’s Pot Market Could Be Worth HOW MUCH??]( [A recent study from Deloitte]( has STUNNED Canada… And is making waves among U.S. investors too. While the Canadian govt estimated a legal market of around $5 billion… Deloitte’s estimate is nearly FIVE TIMES that at $22 billion! If true, Canada’s “pot stocks” [have a ton of room to grow - fast](. [Click here to discover how these stocks could make you rich!]( Most Popular Articles from Zacks.com [Bull Run Set to Become the Longest in History: 5 Winners]( Stocks have scaled new heights on the back of encouraging fundamental traits, including a tighter labor market, higher income and upbeat consumer sentiments. [Read More »]( [Invest Like Buffett & Berkshire With These Top Stock Picks]( Warren Buffett has for years been looked at as an investment icon, while maintaining a relatively simple mantra. [Read More »]( [Computer Services Stock Outlook: Growth Prospects Solid]( The industry is benefiting from changing global regulatory requirements and customer interest in emerging technologies and related services. [Read More »]( [Oil & Gas Stock Roundup]( It was a week where oil prices experienced further correction but natural gas futures ended up. [Read More »]( [Can Tech Companies, Automakers Survive Turkey Tariffs?]( Erdogan announced a nationwide boycott of electronic goods imported from the United States and followed with tariffs of as much as 120% on U.S. made cars among other goods. [Read More »]( Sponsor [Will These Be the Next FANG Stocks?]( A small number of "under the radar" tech companies appear poised for exceptional growth. These innovators are at the forefront of emerging trends that are changing the world. They could very well be the FANG stocks of tomorrow. Zacks is targeting exceptional gains from these stocks over the long term and you're invited to access these exclusive recommendations. Special opportunity ends midnight Sunday, August 19. [See Stocks Now >>]( [Bull of the Day: SodaStream (SODA)]( This beverage systems maker just posted its most successful quarter ever. [Read More »]( [New Zacks Strong Buys for August 16th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( [Customize Your Profit from the Pros Delivery]( Connect with Us: [Facebook]( [Twitter]( [StockTwits]( Contact Info: Phone: 1.800.767.3771 ext. 9339 Email: [support@zacks.com](emailto:support@zacks.com) [Get it on Google Play]( [Get it on Google Play]( [Terms]( | [Privacy]( | [Unsubscribe](