Stocks Up On Trade Optimism

Plus New Zacks Strong Buys for Thursday, September 26 Profit from the Pros Stocks Up On Trade Optimism Stocks rebounded yesterday on growing hopes over trade. It's also worth mentioning that the frenzy on Tuesday over the impeachment inquiry seemed to fizzle yesterday after the WH released the 'transcript' of the Ukraine call. That's not to say the Democrats and Republicans won't keep fighting over this. You can bet they will. But the market seemed to shrug it off. But the markets did like the fact that the U.S. and Japan reached an initial trade agreement which will open up Japanese markets to $7 billion of U.S. agricultural products and other goods. They also liked President Trump's comments concerning a U.S.-China trade deal when he said "it could happen sooner than you think." As you know, they are scheduled to meet for face to face trade talks in early October. In other news, the New Home Sales report showed a greater increase than expected coming in at 713,000 units (annualized) vs. views for 662K. The report also showed a sizable upward revision to the previous month's tally which upped sales from 635K to 666K. The report also noted that the 3-month average is now the best showing in 12 years. Just another data point that underscores this historic economy, which includes full year GDP pacing at 2.6% (which is stronger than the average annual GDP of this entire 10½ year expansion), unemployment near record lows, consumer confidence near record highs, and corporate earnings that continue to impress. No wonder stocks are trading near their all-time highs. And they look poised to go even higher. Much higher. So make sure you're taking full advantage of it. Separately, if you're looking for new stocks to buy on this next leg up, be sure to look at financials, tech, and business service stocks. They're expected to do great. 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