Stocks Rally On Solid Economy And Trade Optimism

Plus New Zacks Strong Buys for Tuesday, March 27 Profit from the Pros Stocks Rally On Solid Economy And Trade Optimism Stocks closed solidly higher yesterday. While the market still has some ground to make up to undo Friday's pullback, stocks are up nicely for the week so far. Optimism is still high for a U.S.-China trade deal. High-level talks will resume in Beijing this week with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin at the negotiating table on Thursday and Friday. And then Vice Premier Liu He will be traveling back to the U.S. the following week for more talks. It's clear both sides want a deal. And traders seem convinced they'll get there. While some are a bit concerned over the length of time this is taking, Tim Keeler, who worked in the Bush administration on U.S trade said, "Trade negotiations that are good and serious take longer than people want or predict. This one's taking longer than people want or predict." I take the current pace as a sign that things are going just fine and that we will ultimately get a good and serious trade deal. Just need a little more patience. In other news, retail sales via the Redbook report showed y/y same store sales up 5.3% vs. last month's snapshot of 4.9%. The Richmond Fed Manufacturing Index came in at 10 vs. views for 12. This is a slowdown from last month but is still showing solid and 'less heated' (i.e., more sustainable) growth. The report noted that local business conditions improved while inflation pressure eased. And Consumer Confidence came in at 124.1. That's down from last month's 131.4, but is still at very lofty levels. Analysts noted that buying plans for autos rose a 'very sharp' 1.7 points; and buying plans for homes rose a 'favorable' 7 tenths of a point. Today we'll get housing data via the MBA Mortgage Applications report, and a look at what professional investors are doing via the State Street Investors Confidence Index. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Top 10 Stocks to Buy Now (#2 will shock you)]( He found Apple at $4... Oracle at $6... Amazon at $40... He just released his most anticipated report of the year: The Top 10 Stocks to Buy For 2019. [Claim your free copy now.]( Most Popular Articles from Zacks.com [Netflix Competition Steepens in Broader Streaming Space]( This behemoth in the subscription streaming services space is going to be facing some fierce competition for market share. [Read More »]( [Computer Software Stock Outlook: Growth Prospects Plenty]( The highly dynamic industry is benefiting from a continued digital transformation environment and strong adoption of cloud computing. [Read More »]( [Pick These 5 Retail Stocks to Craft a Standout Portfolio]( The sector has showcased an improvement of 15% in the past three months, outperforming the S&P 500's rally. 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