Three Up Days In A Row And Counting, Employment Numbers In Focus

Profit from the Pros Three Up Days In A Row And Counting, Employment Numbers In Focus Stocks put in another solid day yesterday with the Dow and the S&P both up over 1%, the Nasdaq up 1.75%, and the Small-Cap Russell 2000 Index up by more than 2%. That's now three up days in a row after bouncing off of the lows earlier this week. And we'll be going for day four today. As mentioned before, the market was due for a bounce after the overdone pullback left stocks ridiculously oversold. The pullback was really caused by two things. 1) Profit taking and position squaring ahead of the midterms. Nobody wanted to risk their profits or be overexposed going into the elections. That adjustment appears to be over. And with voting only a few trading days away, traders have been eager to snap up bargains. 2) The trade woes with China. The U.S. successfully negotiated new trade deals with Mexico and Canada. Same for South Korea. And they had productive negotiations with the EU and Japan. But the U.S. and China have been at a stalemate with tit for tat tariffs getting ratcheted up. That's weighed on prices. But word that they will talk at the G20 summit later in November is encouraging. And then President Trump's tweet yesterday that he had a "long and very good conversation" about trade with President Xi and that "discussions are moving along nicely" energized the market that a trade breakthrough could very well be made sooner rather than later. And that sent the market soaring yesterday. We also got a boost out of the Weekly Jobless Claims report that showed new claims fell by -2,000 to 214K. Analysts also noted that continuing claims and the 4-week average fell to new 45-year lows! But the market will now turn its attention to this morning's Employment Situation Report. Expectations are for 181,000 new private sector jobs being created last month, and 9,000 new public sector jobs, for a combined headline number of 190,000. The unemployment rate is expected to stay the same at 3.7%. A good jobs number could easily pave the way for another up day. Either way, the market looks much better after the last few days. And there's a growing sense of optimism that stocks are poised for a much larger rebound. Best, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Final Days to Target Election Gains]( The midterm elections could be the catalyst that sparks one of the biggest buying opportunities we've seen in years. Investors ready to take action quickly stand to reap the greatest benefits. Zacks' new special report, Midterm Profit Strategies, features 2 stocks to own for each possible election outcome, plus our favorite stock to buy to benefit from new marijuana legislation. Our 2016 report led readers to gains of +53%, +70%, +71%, and +83% – and this year's returns could be even more impressive. The Midterm Profit Strategies is only available until midnight Sunday, November 4. [See Midterm Stocks Now >>]( Most Popular Articles from Zacks.com [Buy These 5 Stocks on New Analyst Coverage]( Coverage initiation on a stock by analyst(s) usually portrays higher investor inclination. [Read More »]( [5 Top-Ranked Stocks That Survived October's Carnage]( Trade tensions, rising rates and concerns about slowing global growth led all indexes to suffer record reverses. [Read More »]( [Winning November to Make Up for a Spooky October: 5 Picks]( The stock market has, historically, witnessed the best stretch of growth from this month till spring. [Read More »]( [U.S. Apparel Spending Highest Since 2005: 4 Picks]( Apparel spending in the last quarter surged to its best level in the last 13 years. [Read More »]( [Apple (AAPL) Beats but Sells Off; Plus SBUX, CBS & More]( Though earnings were 40% higher than the year-ago quarter, with revenues of $62.9 billion topping the Zacks consensus estimate, shares are selling off 3.7% in late trading. [Read More »]( Sponsor [Increase Investment Returns with Free Zacks' Portfolio Tracker]( Follow your investments easily in one place. Get free email updates that alert you to major events affecting your stocks and funds, including timely recommendation changes, earnings announcements and, most importantly, earnings estimate revisions. [Click to Learn More>>]( [Bull of the Day: Sony (SNE)]( Playstation is crushing it as gaming picks up steam. [Read More »]( [New Zacks Strong Buys for November 2nd]( 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](