Plus 5 Just-Added Strong Buys Stocks Ended Lower Yesterday, Plenty Of Positive Earnings From Big Names
[Kevin Matras - EVP - Photo]
Profit from the Pros By Kevin Matras
Executive Vice President Stocks Ended Lower Yesterday, Plenty Of Positive Earnings From Big Names [Stocks Ended Lower Yesterday, Plenty Of Positive Earnings From Big Names]Image: Bigstock Stocks closed lower with all of the major indexes down by -1% or more. The Nasdaq fell by -1.98% while the small-cap Russell 2000 was down -2.40%. Positive earnings reports before the open yesterday by General Electric (+107% positive EPS surprise), McDonald's (+13.9% positive EPS surprise), and Archer Daniels Midland (+22.2% positive EPS surprise), amongst others, were not enough to lift stocks. After the close we heard from Microsoft, and they reported a positive EPS surprise of 10.4%, and a positive sales surprise of 3.78%. They were up more than 5.50% in after-hours trade. We also heard from Alphabet (Google), and they posted a positive EPS surprise of 10.4% as well, and a positive sales surprise of 1.54%. They were up 2.70% in after-hours trade. Visa also reported after the bell and posted a positive EPS surprise of 6.09%, and a positive sales surprise of 3.01%. They were up 1.40% in after-hours trade. Today there's 300 companies on deck to report. Boeing, Thermo Fisher, and Humana are three biggies that will report before the open. After the close we'll hear from Meta (Facebook), ServiceNow, and General Dynamics to name a few. In spite of yesterday's pullback, stocks typically go up during earnings season. As long as earnings can continue to come in at this better than expected pace, that should be supportive for stocks. But yesterday's pullback was more than likely position squaring ahead of 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 the 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 other news yesterday, the Case-Shiller Home Price Index (unadjusted) was up 0.2% m/m vs. last month's -0.6%. On a y/y basis it was up 0.4% vs. views for 0.0% and last month's pace of 2.6%. New Home Sales jumped to 683,000 units (annualized) vs. the consensus for 634K and last month's 623K. The Richmond Fed Manufacturing Index fell to -10 vs. last month -5. And the Consumer Confidence report dipped to 101.3 vs. last month's 104.0 and views for the same. Today we'll get MBA Mortgage Applications, Durable Goods Orders, Retail and Wholesale Inventories, the Survey of Business Uncertainty, and the State Street Investor Confidence Index. Earnings remain in focus. But again, the main event this week is Friday's PCE inflation index. See you tomorrow, [Kevin Matras - Signature] Kevin Matras
Executive Vice President, Zacks Investment Research [Zacks Reveals ChatGPT "Sleeper Stock"]( One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, AI could expand the global economy by $15.7T. That's internet and iPhone-scale impact. ChatGPT answers follow up questions ... admits mistakes ... challenges incorrect premises ... and even rejects inappropriate requests. Just launched, this phenomenon is already outpacing the adoption rates of TikTok and Instagram by 3X and 10X respectively. A new Zacks Special Report brings you a stock hiding under Wall Street radar, plus 4 other must-buys. Distribution of the report is limited. [Download Now »]( Most Popular Articles from Zacks.com [Restaurants Roar Back to Life: Stocks to Watch]( Despite one of the more difficult market environments seen in some time, this industry group steadily outperformed over the past year with a nearly 20% return. [Read More »]( [4 Healthcare Stocks Poised to Beat Q1 Earnings Estimates]( Rising patient volumes, telehealth services and outpatient surgeries are expected to boost first-quarter 2023 results for these stocks. [Read More »]( [Semiconductor ETFs in Focus Ahead of Q1 Earnings]( These ETFs have been rising on growing optimism that a sales downturn in the industry has reached its lowest point. [Read More »]( [Add 4 Stocks With Solid Net Profit Margin for Higher Returns]( Each of these picks carries a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a healthy net profit margin. [Read More »]( [How to Invest in the Metaverse with ETFs]( While the hype around the metaverse has cooled, ETF providers have continued to launch metaverse funds at an unprecedented pace. [Read More »]( [Your Exclusive Access to Today's Top ETFs]( Use Zacks ETF Rank to help you select the very best ETFs for your portfolio. This quantitative ratings system takes into account asset class forecasts as well as several ETF-specific factors. All to give you a comprehensive account of a fundâs potential before you invest your money. [See Today's Top-Ranked ETFs »]( [Bull of the Day: APi Group Corporation (APG)]( APG's valuation and price performance speak for themselves, while its $22 per share price might make it even more attractive to some. [Read More »]( [New Zacks Strong Buys for April 26th]( 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 moreâdaily 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 March 6, 2023. 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