Stocks Up Again After Impressive Rally Off Lows

Plus New Zacks Strong Buys for Thursday, August 8 Profit from the Pros Stocks Up Again After Impressive Rally Off Lows Stocks ended mostly higher yesterday after an impressive rally off their lows. The markets were under pressure right from the open with the big three indexes effectively testing Monday's lows. But once it was clear those levels were going to hold, they began their climb back up. Reports that India, New Zealand, and Thailand cut interest rates, seemed to coincide with the U.S. market going down in pre-market trade. (Even though that didn't make any sense.) In reality, the cuts from the three mentioned above, and so many other central banks around the globe, that are cutting, pledging to cut, and enacting other stimulus measures, only makes it that much easier for the U.S. to cut again just to keep up. And that's bullish for the economy and the market. In other news, MBA Mortgage Applications were up 5.3%, with the purchase index down -2.0%, but refi's up 12.0%. The recent interest rate cut and the drop in mortgage rates 'triggered a surge in refinancing.' Today we'll get Weekly Jobless Claims, and Wholesale Trade. And hopefully another positive close. September is shaping up to be an important month. The U.S. and China are scheduled to meet for another round of trade talks. We'll find out if President Trump implements the additional tariffs on China. And we'll see if the Fed cuts interest rates again. If there's progress on trade talks, that would be great news. If tariffs are postponed, that could be positive. But even if the tariffs do go on, it shouldn't be that big of a deal for all of the reasons I've mentioned before, which include only a modest impact on our GDP. And if the Fed does cut rates again (odds are 60% and climbing), that would be a big benefit as well. But I don't think traders are going to wait around. I think the market goes up into these three events, with the catalysts in place to begin a new leg up. As I've said before, these are historic times for the economy, and for the market. So make sure you're taking full advantage of it. That includes buying the dips. Taking advantage of the recent pullback. Getting into the right stocks and staying out of the wrong ones. Don't squander this time with preventable mistakes. Making money in the market is easier than you think. And the time to act is now. To learn how you can turn the probabilities of success in your favor on your very next trade, be sure you read my latest commentary... [Read This Before Your Next Trade]( Best, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [See Today's Picks from Zacks' Top Strategies]( Our 5 best-performing strategies have blown away the S&P's +15.8% gain from 2017 through 2018. Amazingly, they soared +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%. Today you can access live picks from these exclusive strategies without cost or obligation. 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