Stocks Up Sharply With One More Day Left In This Shortened Trading Week

Plus 5 New Strong Buys for Today Stocks Up Sharply With One More Day Left In This Shortened Trading Week [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Up Sharply With One More Day Left In This Shortened Trading Week [Stocks Up Sharply With One More Day Left In This Shortened Trading Week]Image: Bigstock Stocks closed sharply higher yesterday. While the major indexes are still down for the week, one good up day could put them in the green for the week. Inflation continues to be the biggest worry in the market right now. Tuesday's Consumer Price Index (CPI), which showed inflation up 8.5% on a y/y basis, remains at a 40-year high. And yesterday's Producer Price Index (PPI), which was up 11.2% y/y (vs. the consensus for 10.6%), set a new all-time high (since records were kept in 2010 or 12 years ago). But as I mentioned yesterday, some are speculating that this could very well prove to be the 'high-water mark' for inflation. And yesterday's rally suggests plenty of others might be thinking the same thing. Especially after last month's 25 basis point rate hike, and May's expected 50 basis point hike. In other news, the markets also cheered Delta Airlines' better than expected earnings after posting a positive EPS surprise of 3.91% and a positive sales surprise of 3.14%. The stock was up 6.29% yesterday. The other airlines rose on the news with American up 10.62%, United up 5.64%, and Southwest up 7.54%. Those airlines report next week. The big banks will be on deck today with Citigroup, Goldman Sachs, Wells Fargo, and Morgan Stanley all reporting. JPMorgan Chase and BlackRock provided a mixed bag yesterday with JPM posting a negative EPS surprise of -3.66%, while BLK posted a positive EPS surprise of 6.73%. But they both traded lower yesterday. All in all, we'll get a total of 18 more companies reporting earnings today. That number increases to 298 next week, when earnings season officially begins. And then another 969 the following week. Earnings season is always an exciting time since stocks typically go up during earnings season. And it's not uncommon to see individual stocks move 10%, 15%, even 20% or more in one day after an earnings report. The key is getting into the right stocks. If you want to learn how to potentially find big winners this earnings season BEFORE they report, be sure to read our latest commentary... [How to Find Big Winners This Earnings Season]( Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Nevada: A Lithium "Treasure Trove"?]( Nevada may be known as the "Silver State," but it's also the hot spot for North American lithium. With China controlling 80% of the world's lithium supply, the defense industry and electric vehicle manufacturers are scrambling for more domestic sources of the valuable metal. 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