Stocks Closed Lower, Busy Week Comes To An End

Plus 5 New Strong Buys for Today Stocks Closed Lower, Busy Week Comes To An End [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Closed Lower, Busy Week Comes To An End [Stocks Closed Lower, Busy Week Comes To An End]Image: Bigstock Stocks closed modestly lower yesterday. And are modestly lower for the week, with one more trading day to go. But it won't take much to get them in the green. Yesterday's Weekly Jobless Claims were down by -4,000, as expected, at 222,000. The 4-week moving average came in slightly below that at 221K. The Housing Starts and Permits report saw starts come in at 1.425 million units (annualized) vs. the consensus for 1.410M. Additionally, last month's report saw starts upwardly revised from 1.439M to 1.488M. Permits came in at 1.526M, which was higher than the consensus for 1.516M, but below last month's 1.564M. The Philadelphia Fed Manufacturing Index came in at -19.4 vs. last month's -8.7 and estimates for -7.0. Although, the Kansas City Fed Manufacturing Index improved to -6 vs. last month's -7. Today we'll get Existing Home Sales, E-Commerce Retail Sales, and Leading Indicators. And more earnings, with another 113 companies set to report today. Earnings season has been winding down. And next week, there's only another 369 companies on deck to report. Actually, Tuesday, 11/22, after HPQ reports after the close, officially marks the end of this earnings season. (BTW, for those interested, Alcoa has long been considered the 'official' start of earnings season because it was once the first Dow component to report earnings. And Hewlett-Packard (now HP Inc.) has long been called the 'official' end of earnings season because it used to be the last of the Dow components to report earnings. Ironically, both AA and HPQ are no longer part of the Dow Jones Index. But after bookending earnings season for so long, that tradition has stuck, regardless of their current Dow non-membership status.) Stocks continue to enjoy the positive seasonal effects on the market, which includes Q4 typically being the best quarter for socks, and the post-midterm effect which shows that since 1950, stocks have always gone up in the year after midterms, with an average 12-month forward return of 18.6%. Regardless of how this week ends, we are at the very beginning of one of the best times for stocks. Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Time's almost up! Get your FREE copy of Finding #1 Stocks - A $49.95 Value]( The Executive Vice President of Zacks Investment Research, Kevin Matras, continues to feel optimistic about our country’s financial future. Stocks are currently rallying, but volatility remains. So what’s the key to being successful in today’s market conditions? 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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: Phillips 66 (PSX)]( The oil and gas company topped quarterly estimates in early November and boosted its guidance once again for 2022 and for fiscal 2023. [Read More »]( [New Zacks Strong Buys for November 18th]( 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. 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