Stocks Closed Higher Yesterday, Earnings And Inflation Are This Week's Main Focus

Plus 5 Just-Added Strong Buys Stocks Closed Higher Yesterday, Earnings And Inflation Are This Week's Main Focus [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Closed Higher Yesterday, Earnings And Inflation Are This Week's Main Focus [Stocks Closed Higher Yesterday, Earnings And Inflation Are This Week's Main Focus]Image: Bigstock Stocks were higher across the board yesterday with the Dow leading the way with a 1.16% gain, followed by the S&P 500 with 0.90%. Yesterday's gains seemed like a delayed reaction to last Friday's weaker than expected Employment Situation report. On Friday, traders cheered the news as stocks rallied for most of the day, but sold off by the close. Nonetheless, the initial optimism stemmed from the idea that an overly hot jobs market would only provide more reason for the Fed to raise rates again come September. But a weaker (albeit still growing) jobs market would show their rate hikes are having an impact, and maybe the Fed can hit pause again in September, or call it quits altogether. Yesterday's gains essentially picked up what the market gave up midday on Friday. But with last week's jobs report out of the way, all eyes will turn to Thursday's Consumer Price Index (CPI) inflation report, and then Friday's Producer Price Index (PPI) inflation report. The Fed has acknowledged that inflation has come down, but not enough. And that there's more work to be done. Yet they have repeatedly stressed that they will remain data dependent. So every inflation report between now and September 19-20 (the next FOMC meeting) will be closely watched for any clues as to what the Fed might do as a result. In the meantime, we've got a busy week of earnings ahead. Between today and the rest of the week we'll hear from 1,693 companies, with 546 on deck for today, including biggies Eli Lilly, UPS, Duke Energy, Datadog, and Chinese EV maker Li Auto, to name a handful. On the economic report front today we'll get the NFIB Small Business Optimism Index, the International Trade in Goods and Services report, and Wholesale Inventories. But again, it's the inflation reports that are this week's main events. 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 [Stay to Play: Hotel Giants Breaking Out to 52-Week Highs]( The Zacks Hotel and Motels industry group has outperformed the market this year and the momentum has clearly picked up over the last month. [Read More »]( [PayPal Launches Stablecoin: Next Bitcoin Bull Run Building?]( Could PayPal's new dollar pegged stablecoin be a catalyst to ignite the next rally in Bitcoin? [Read More »]( [3 Stocks to Watch in the Thriving Glass Products Industry]( Solid end-market demand and the focus on unveiling innovative products will aid the Zacks Glass Products industry's growth. [Read More »]( [Top 5 Restaurant Stocks to Enrich Your Portfolio]( Each of these restaurant stocks carries a Zacks Rank # 1 (Strong Buy) or 2 (Buy) and has seen positive earnings estimate revisions in the last 30 days. [Read More »]( [Seeking Growth? Buy These 3 Top-Ranked Mid-Caps]( Mid-cap stocks can fly under the radar despite commonly offering a nice blend of growth potential and stability. [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: MGM Resorts (MGM)]( Travel is back in high demand and Vegas is hotter than ever. [Read More »]( [New Zacks Strong Buys for August 8th]( 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 July 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