Stocks End Mixed Again As Big Tech Earnings Weigh

Plus 5 New Strong Buys for Today Stocks End Mixed Again As Big Tech Earnings Weigh [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks End Mixed Again As Big Tech Earnings Weigh [Stocks End Mixed Again As Big Tech Earnings Weigh]Image: Bigstock Stocks closed mixed yesterday with the S&P and Nasdaq finishing in the red, while the Dow and small-cap Russell 2000 finished in the green. Big tech weighed on the market once again. On Wednesday it was Microsoft and Alphabet (aka Google). Yesterday it was Meta (aka Facebook). And today, based on yesterday's end of day earnings, it could be Amazon and Apple weighing on stocks. After the close yesterday, Amazon posted a beat on bottom line earnings, but a miss on top line sales. But it was the weak guidance for Q4 (midpoint of $144B vs. $155B expected) that weighed on shares in after-hours trade (down roughly -20%). Apple reported after the close as well and posted a 2.38% positive EPS surprise, and a 1.90% positive sales surprise on record revenue. But lighter than expected iPhone sales, and services pushed shares lower in after-hours by roughly -2%. Stocks were mostly higher in the morning yesterday after pre-open beats by Caterpillar (+23.8% positive EPS surprise), McDonald's (+4.28% positive EPS surprise), and Merck (+10.8% positive EPS surprise), but weakened as the day wore on. Today we'll hear from biggies Exxon Mobile (before the market opens), ColgatePalmolive (before the open), and AbbVie (before the open), to name a few. (In total, we'll get 62 companies in all.) That number balloons to 1,646 next week. Contributing to the stronger tone earlier in the day yesterday was a better than expected Q3 GDP report which came in at +2.6% vs. the consensus for 2.3%. Personal Consumption Expenditures rose 1.4% vs. last quarter's 2.0% and views for 0.8%. After Q1's -1.6%, and Q2's -0.6% (two down quarters in a row), which is the definition of a recession, we appeared to have come out of it just as quickly. Of course, Q3 is now 'old news.' And it's Q4 that the market is focused on now. Nonetheless, it showed the resilience of the U.S. economy. Today we'll get the Personal Income and Outlays report, the Employment Cost Index, Pending Home Sales, and Consumer Sentiment. Stocks are still up for the week (except for the tech-heavy Nasdaq), with one more day to go. Should be a busy day. Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [5 Stocks Set to Double: Sunday Deadline]( There's still time to get in on our just-released 5 Stocks Set to Double Special Report. Each pick is the single favorite of a Zacks expert with the best chance to gain +100% and more in the months ahead: Stock #1: A Strong Stock in a Soaring Sector Stock #2: Solid Outperformance and Decade-Long Highs Stock #3: Huge Potential Reward for Patient Investors Stock #4: Top Producer of In-Demand Lithium Stock #5: Tremendous Relative Strength in a Weak Market Previous editions have racked up gains of +143.0%, +175.9%, +498.3%, and even +673.0%. Deadline to download the new report is midnight Sunday, October 30. [See Stocks Now >>]( Most Popular Articles from Zacks.com [Top 5 S&P 500 Stocks Poised to Beat on Q3 Earnings]( Investment in these stocks should prove beneficial as an earnings beat is expected to drive stock prices going forward. [Read More »]( [4 MedTech Stocks Set to Outpace Q3 Earnings Estimates]( Despite current challenges, the consistent opening up of economies, with countries lifting COVID-19 restrictions, looks to have favored industry growth in Q3. [Read More »]( [This Leading Auto Company Has Navigated the Bear Market with Ease]( This stock is currently hitting an all-time high, a sign of strength as most stocks continue to hover in bear market territory. [Read More »]( [AAPL, PINS Beat; AMZN, INTC Mixed but Down]( Lowered guidance in Q3 earnings reports are hammering Amazon and Intel stocks. [Read More »]( [The 5 Most Exciting Stocks for 2023]( Stock Strategist Tracey Ryniec takes a look at true value stocks that Wall Street is ignoring. [Read More »]( [Final Reminder: Could This Be the Next Tesla?]( Zacks Aggressive Growth expert Brian Bolan has pinpointed a tiny company from America's heartland that's gearing for a monster ride. It's ramping up production of an affordable, "working man's" rival to Tesla at exactly the right time. Those who got in early on Tesla gained up to +26,600%. That type of gain may be difficult to reach, but Brian's under $5/share industry disrupter could easily ride soaring gas prices and desire for energy independence to triple and quadruple-digit gains. Experts predict the EV market to reach $1 trillion in 5 years. Don't wait to get aboard. [See This Stock Now  >>]( [Bull of the Day: HF Sinclair Corp. (DINO)]( Up 13% just over the last month, there's been no stopping DINO shares. [Read More »]( [New Zacks Strong Buys for October 28th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( More Zacks Resources Mobile App 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. [Download our Zacks App for Apple iOS]( [Download our Zacks App for Android]( Zacks Members' Success Stories Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. Get all of our market insights and much more when you connect with us. [Visit Zacks on Facebook]( [Follow Zacks on Twitter]( [See Zacks videos on YouTube]( [Join Zacks on LinkedIn]( [Read Zacks Commentary on StockTwits]( This free resource is being sent by [Zacks.com](. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms of Service". [www.zacks.com/terms_of_service]( Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through September 12, 2022. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit [( for information about the performance numbers displayed above. Zacks Emails If you would prefer to not receive future profit-producing emails from [Zacks.com]( the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please [click here]( and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com. Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606