Stocks Closed Mixed On Friday, Nasdaq Closed Higher For The Week

Plus 5 Just-Added Strong Buys Stocks Closed Mixed On Friday, Nasdaq Closed Higher For The Week [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Closed Mixed On Friday, Nasdaq Closed Higher For The Week [Stocks Closed Mixed On Friday, Nasdaq Closed Higher For The Week]Image: Bigstock Stocks closed modestly lower on Friday and mixed for the week. For the week, the Dow was down -1.11%; the S&P was down -0.29%; while the Nasdaq was up 0.40%. That was the third up week in a row for the Nasdaq. It also happens to be the week that they officially exited their bear market, and began a new bull market. The Nasdaq is now up 20.28% from last year's bear market low close, and 0.23% in their new bull market. Last week also saw confirmation that inflation continues to ease. The CPI report showed core inflation at 5.5% y/y vs. last month's 5.6% and last year's peak of 6.6%. The PPI report put core inflation at 3.2% y/y vs. last month's 3.4% and last year's peak of 8.2%. That underscored the Fed's hint from the previous week that rates are likely on pause, at least for their next meeting in June. In other news, Friday's Consumer Sentiment report ticked down to 57.7 vs. last month's 63.5 and views for 63.0. Earnings season will start winding down with 'only' 735 companies set to report this week. Although, we will get a fair number of retail stocks, including marquee names like Home Depot, Target, and Walmart, along with Chinese powerhouse Alibaba. Next week that slows to only 262 names on deck. But, with most of earnings season over, we can see it's been another better than expected earnings season. There's been plenty of talk about the debt ceiling in the last couple of weeks. And that's only going to get louder and louder as we approach the June 1 deadline (the date Treasury Secretary, Janet Yellen, said the U.S. government may not be able to pay its bills). Although, she did tell Congress that it "could be a number of weeks later than these estimates." And there are others who believe that the U.S. won't reach that point until mid-July. Either way, the urgency is real. And given how slow Congress is to act, often waiting until the last minute (or later) to get anything accomplished, it's distorted treasury yields considerably with the 1-month treasury yield above the 3-month treasury yield. In fact, the 1-month yield went from 3.36% in mid-April to a soaring 5.79% currently. That's 54 basis points above the 3-month yield of 5.25%. I would imagine all will get worked out in the end, as it always has in the past. But the latest brinkmanship is definitely adding unnecessary volatility to the market. But looking past this, there's plenty of reason to be optimistic about the market with inflation on the decline, interest rates appearing to be on pause, personal incomes hovering near all-time highs, and the economy, while slowing, continuing to grow. As long as D.C. doesn't break anything in the debt ceiling drama, stocks could be ready for their next leg up. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Why Haven't You Looked at Zacks' Top Stocks?]( Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation. [See Stocks Free »]( Most Popular Articles from Zacks.com [3 Top Ranked Stocks for Momentum Traders to Buy]( One way to take advantage of a market that stubbornly continues to grind higher is to focus on momentum stocks. [Read More »]( [Retail Earnings Looming: What to Expect]( Investors can intuitively project moderation in consumer spending as the economy further slows down under the weight of tighter monetary conditions. [Read More »]( [Investors Are Diving Into These 3 Construction Stocks]( The Zacks Construction sector has outpaced the S&P 500 over the last month, with these three stocks helping lead the way. [Read More »]( [4 Stocks Powered by Increasing Cash Flow for Your Portfolio]( With uncertainties in the global economy, market disruptions and dislocations, as well as liquidity concerns, analyzing a company's cash-generating efficiency holds more relevance in the current market. [Read More »]( [FDIC Asks Big US Banks to Pay for SVB, Signature Bank Collapse]( The FDIC has decided to levy a special assessment to recover the losses associated with uninsured depositors. [Read More »]( [What's Today's Top Rated Mutual Fund?]( Use the Zacks Mutual Fund Rank, a quantitative ratings system designed to help you find the best funds to beat the market. See which ones to buy, which to sell and track your favorite mutual fund family. [Get started now »]( [Bull of the Day: M.D.C. Holdings (MDC)]( After blasting Q1 expectations earlier in the month, MDC stock looks attractive sporting a Zacks Rank #1 (Strong Buy) and an overall "A" VGM Style Score. [Read More »]( [New Zacks Strong Buys for May 15th]( 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 April 3, 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