Stocks End Higher, Extending Their Winning Streak To 3 Days In A Row

Plus 5 New Strong Buys for Today Stocks End Higher, Extending Their Winning Streak To 3 Days In A Row [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks End Higher, Extending Their Winning Streak To 3 Days In A Row [Stocks End Higher, Extending Their Winning Streak To 3 Days In A Row]Image: Bigstock Stocks closed sharply higher again yesterday as the rally continues. Also continuing is the better than expected earnings season. Before the open yesterday, marquee names such as Coca-Cola posted a 7.81% positive EPS surprise; General Motors posted a 19.1% positive EPS surprise; and UPS posted a 5.28% positive EPS surprise, to name a few. After the close we heard from Microsoft which posted a 2.62% positive EPS surprise and a 1.32% positive sales surprise. While growth in its cloud computing slowed to 35% vs. 50%, and PC sales declined, overall revenue was up 10.6% vs. this time last year. Alphabet (aka Google) posted a -15.2% negative EPS surprise and a -1.87% negative sales surprise. Total revenue was up 6.13% vs. this time last year, but that was a marked slowdown from last year's pace of 41%. Visa posted a 3.76% positive EPS surprise and a 3.12% positive sales surprise. Sales were up 18.8% vs. this time last year as payment volume and travel provided a nice boost. Today, before the open, we'll get earnings from Boeing, Bristol Myers, and General Dynamics. After the close, we'll get Meta (aka Facebook), Ford, and Raymond James Financial. All in all, there are 293 companies on deck to report today. Moreover, there's 738 companies set to report between today and Friday. And that number swells to 1,631 next week. In other news, the Case-Shiller Home Price Index was down -1.3% m/m (adjusted), and -1.6% unadjusted. But y/y it was up 131.% unadjusted. The Richmond Fed Manufacturing Index slipped to -10 vs. last month's 0 and views for -3. And Consumer Confidence dipped to 102.5 vs. last month's 107.8 and the consensus for 106.0. Today we'll get MBA Mortgage Applications, New Home Sales, Retail and Wholesale Inventories, the International Trade in Goods report, the Survey of Business Uncertainty, and the State Street Investor Confidence Index. Should be a busy day. We'll also see if the market can add to their winning streak. Yesterday made it 3 days in a row so far. Today would make it 4. Either way, stocks have been on a tear ever since they put in their key upside reversal day on October 13. And it looks like there's more upside to go. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [5 Stocks to Buy Immediately]( Eric Fry, one of America's top Investment Strategists, provides his latest report 5 Top Stocks for 2023. You can't afford to miss out on the once in a decade chance to buy after the recent dip in the markets. 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