Stocks End Lower, One More Day To Go In Subdued Trading Week

Plus 5 Just-Added Strong Buys Stocks End Lower, One More Day To Go In Subdued Trading Week [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks End Lower, One More Day To Go In Subdued Trading Week [Stocks End Lower, One More Day To Go In Subdued Trading Week]Image: Bigstock Stocks closed lower yesterday, and are on pace to close lower for the week. Although, the markets are not off by much. And a decent day today could easily put the indexes in the weekly plus column. Wednesday afternoon's disappointing earnings from TSLA saw shares down -9.75% in Thursday's session. Yesterday's reports had their winners and losers. Taiwan Semiconductor was one of the winners, posting a positive EPS surprise of 8.26%, while their stock climbed 2.36% on the day. Nucor posted a positive EPS surprise of 16.8%, and gained 5.50% on the day. Same with D.R. Horton which posted a positive EPS surprise of 43.7%, and adding 5.64% on the day. As for the losers, that would include American Express which posted a negative EPS surprise of -9.09%, and gave up -1.01% on the day. Nokia as well, which posted a negative EPS surprise of -33.3%, and dropping -9.09% on the day. And AT&T who posted a positive EPS surprise of 3.45%, but a negative sales surprise of -0.67%, and fell by -10.41% on the day. After the close yesterday, CSX Corp posted a solid beat with a positive EPS surprise of 14.3%, and a positive sales surprise of 2.97%. They were up 2.60% in after-hours trade. Although, we saw a fair number of small and mid-sized banks report after the close as well, and it was a mixed bag. Earnings season continues today with only about 20 companies set to report. But that number increases next week to 1,006. And then jumps to 1,613 the week after that. In other news, yesterday's Weekly Jobless Claims were up 5,000 to 245K vs. the consensus for 242K. Although, the 4-week moving average came in at 239.75K. Existing Home Sales dipped -2.4% m/m to 4.44M units (annually) vs. last month's 4.55M and views for 4.50M. On a y/y basis sales are down -22.0%. The Philadelphia Fed Manufacturing Index came in at -31.3 vs. last month's -23.2 and views for -19.4. And the Leading Indicators report was down -1.2% m/m vs. last month's -0.5% pace and the consensus for -0.4%. Today we'll get the PMI Composite report, and the Baker Hughes Rig Count report. We'll also hear from Lisa Cook, Member of the Board of Governors at the Fed. Stocks go into the day a bit underwater for the week. But they are within striking distance of getting into the green. If so, that would make it 5 weeks in a row for the Dow. And 4 out of 5 weeks for the S&P and Nasdaq. Either way, stocks are near their highs for the year. And with inflation going down, the Fed nearing the end of their interest rate hike cycle, a resilient economy, and a better than expected earnings season so far, not to mention favorable seasonals, it looks like there could be a lot more upside to go. Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Buy These Stocks BEFORE They Report Earnings]( [Earnings Surprises] Next week, 999 companies are set to report earnings. What if you could know in advance which few would shock Wall Street by beating earnings expectations and pop in price? Now you can. Zacks proprietary "ESP" formula predicts positive earnings surprises with unthinkable 81.49% accuracy.¹ Investors following its picks have seen double-digit gains in as little as 2 days. What stocks is the system picking today? Find out before doors close to new investors at midnight Sunday, April 23. 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