Stocks End Mixed, Big Earnings And Inflation Numbers On Deck This Week

Plus 5 Just-Added Strong Buys Stocks End Mixed, Big Earnings And Inflation Numbers On Deck This Week [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks End Mixed, Big Earnings And Inflation Numbers On Deck This Week [Stocks End Mixed, Big Earnings And Inflation Numbers On Deck This Week]Image: Bigstock Stocks closed mixed with the Dow and the S&P modestly in the green, while the Nasdaq closed modestly in the red. This is a big week for earnings as roughly 35% of the companies in the S&P will report this week. Coca-Cola started things off yesterday morning with a 4.62% positive EPS surprise. After the close we heard from Whirlpool, which posted a positive EPS surprise of 24.3%. They were up more than 3% in after-hours trade. We also heard from First Republic Bank. They were one of the troubled bank names that we heard about when Silicon Valley Bank was shut down. First Republic actually got a $30 billion liquidity injection from 11 of the largest U.S. banks last month, but still saw their debt rating downgraded by S&P Global Ratings. They reported a 70.8% positive EPS surprise. Even though deposits have stabilized, they revealed that deposits dropped a larger than expected -40% in Q1 to $104.5 billion vs. the consensus estimate for $145 billion. They were up 12% before they reported, but were down -20% in after-hours trade. Today we'll hear from heavyweights McDonald's (before the open), and United Parcel Service (before the open), as well as Microsoft (after the close), Alphabet (after the close), and Visa (after the close), to name a handful. The marquee names continue on Wednesday with Meta, Thermo Fisher, and Boeing. On Thursday we'll get Amazon, Eli Lilly, and AbbVie. And on Friday we'll hear from oil companies Exxon Mobil, Chevron, and Imperial Oil. But the main event this week is Friday's Personal Consumption Expenditures (PCE) index inflation report. The PCE index is the Fed's preferred inflation gauge. And it will be the last inflation reading we'll get before their FOMC announcement next week on May 3. The latest CPI and PPI reports both confirmed inflation is on the decline. And that trend is expected to continue with the PCE index. But the Fed has repeatedly said that they will remain data dependent. And any unwanted surprise could have an impact on what they decide on rates next week. But for now, inflation is expected to show a continuing decline, and the Fed is widely expected to raise rates one last time by another 25 basis points and then call it quits. In the meantime, we'll get plenty of economic reports before then starting with today's Case-Shiller Home Price Index, the FHFA House Price Index, New Home Sales, the Richmond Fed Manufacturing Index, and Consumer Confidence. Should be a busy day today. And it's looking like it's going to be a busy week. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [See Zacks' Top Stocks for Free]( Starting today, you can get instant access to the latest picks from our time-proven strategies which since 2000 have soared far above the market. While the S&P 500 averaged +6.2% per year, our top strategies averaged gains as high as +46.4%, +49.5% and +55.2% per year. You'll also get our free Special Report, Top 10 Stock Screening Strategies that Make Money which spells out the formulas behind these top strategies. [See Stocks Free »]( Most Popular Articles from Zacks.com [Big Tech Earnings Looming: What to Expect]( Tech stocks have been standout performers this year, with a combination of favorable developments on the macro front driving momentum. 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