Stocks Up Sharply As Earnings Season Continues

Plus 5 New Strong Buys for Today Stocks Up Sharply As Earnings Season Continues [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Up Sharply As Earnings Season Continues [Stocks Up Sharply As Earnings Season Continues]Image: Bigstock Stocks closed solidly higher yesterday, with all of the indexes now in the green for the week. Earnings season continues. The overwhelming majority of companies reporting yesterday posted solid upside surprises. And the market responded accordingly. We have another 293 companies on deck for today. And in total, another 733 by week's end. In other news, the Redbook report showed same store retail sales up 13.3% y/y. That's down from last week's pace of 15.8%. But it's still an impressive clip. And the NFIB Small Business Optimism Index came in at 97.1 vs. last month's 98.9 and views for 97.5. Down a bit from the last report, but another solid showing. Today we'll get MBA Mortgage Applications, and Wholesale Inventories. Coming up on Thursday we'll get another look at inflation with the Consumer Price Index. People will be watching that number closely. But it's unlikely it will cause the Fed to do anything other than what they've essentially already telegraphed, which is 3-4 rate hikes by year's end, which would put the Fed Funds rate at approximately 0.9%. Nonetheless, that will be the number to watch tomorrow. We'll also get Weekly Jobless Claims on Thursday. And then Consumer Sentiment on Friday. That too is an important data point to watch, especially since roughly 70% of our GDP is tied to consumer spending. And a strong consumer with a positive outlook is a good indicator of future spending. In the meantime, the economy looks strong. And with Omicron cases dropping sharply across the U.S., that bodes well for even more economic expansion to come. And that could send the market soaring. So make sure you're taking full advantage of it. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [10 Best Stocks to Own in 2022]( Major economic shifts are coming as America grapples with inflation for the first time in decades. Some companies will face bankruptcy and others will enter 2022 with strong tailwinds. Today, we are inviting you to take a free peek at MarketBeat's proprietary and exclusive list of the 10 Best Stocks to Own in 2022. These companies could pop in early in the new year and they are not in the industries that you would expect. [Click here to see the first stock.]( Most Popular Articles from Zacks.com [5 Stocks to Buy After Strong Earnings Results]( Fourth quarter earnings season is turning out to be better than expected as companies continue to beat both revenue and earnings projections. 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