Stocks Finish Higher On Earnings And Continued Support From Fed

Plus 5 New Strong Buys for Today [Kevin Matras] Profit from the Pros By Kevin Matras Executive Vice President [Zacks Investment Research] Stocks Finish Higher On Earnings And Continued Support From Fed Image: Bigstock Stocks jumped yesterday as a bevy of strong earnings lifted the markets. Earnings season is doing better than expected, and it's showing the resiliency of corporate America and our economy to get thru tough times. Fiscal and monetary policies throughout the pandemic have also helped. The Fed underscored that yesterday when it signaled it would continue to provide support for the economy "until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals." This included their reiteration that rates will stay near zero for the foreseeable future, and that they'll continue to purchase Treasuries and mortgage backed securities. More support is also likely on the way in the form of a fourth coronavirus relief/stimulus bill. As mentioned previously, while the public back and forth suggests deep divisions between the two parties, privately there seems to be enough bipartisan agreement on several big issues to get something done soon. And time is of the essence given that many people at the end of the month will lose the benefits that the first three packages provided. In the meantime, stocks are cheering the economic recovery. Even though the reopening has not been without it's setbacks, the pent-up economic demand that's been unleashed so far has been huge. That's why stocks have been soaring. And why it looks like there's a lot more upside to go. A lot of the stocks people bought in the last few weeks and months will likely turn out to be long-term holds. And there's nothing like sitting back and watching the gains rack up. 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For example, one is a revolutionary tech giant that controls 80% of the market share in its region and has 14 out of 14 analysts shouting Buy. Today, you are invited to download the just-released Special Report that names these stocks and spotlights why their gain potential is so exceptional. [See Stocks Now >>]( Image: Shutterstock [Bull of the Day: JD.com, Inc. (JD)]( The e-commerce firm that has diversified into new areas and seen its stock price outclimb local rival Alibaba and Amazon over the last two years. [Read More »]( [New Zacks Strong Buys for July 30th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com. 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