Stocks Up Again, S&P Makes Another New All-Time High

Market Moves You Need to See Stocks Up Again, S&P Makes Another New All-Time High [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Up Again, S&P Makes Another New All-Time High [Stocks Up Again, S&P Makes Another New All-Time High]Image: Shutterstock Stocks closed modestly higher yesterday. But the small-cap Russell 2000, and the mid-cap S&P 400 closed with sharp gains of 1.50% and 0.91% respectively. Earnings season continued on. We didn't have the high profile names reporting yesterday like we did earlier in the week. But there were plenty of big-name surprises. Hershey posted a positive EPS surprise of 3.59% before the open yesterday, and gained 4.14% on the day. Belden posted a positive EPS surprise of 30.4% before the open, and soared 13.1% in the regular session. And Ralph Lauren posted a positive EPS surprise of 18.1% before the open, which sent prices up 16.4% afterwards. After the close, the beats continued, most notably with Cloudflare posting a positive EPS surprise of 25.0%, which sent shares soaring by more than 21% in after-hours trade. This was on top of the 8.35% seen in the regular session before they reported. Fewer number of companies reporting today with just 75 on deck. But next week we'll get another 825 set to report, including headliners like Coca-Cola, Shopify, Airbnb, Zoetis, and Applied Materials to name a handful. Roughly 60% of the S&P 500 companies have already reported. So far, total Q4 earnings are up 4.4% vs. this time last year, on 3.5% higher revenues, with 81.8% posting a positive EPS surprise, and 64.6% posting a positive sales surprise. It's been a great earnings season so far. And I'm expecting it to finish up that way. In other news, yesterday's Weekly Jobless Claims fell -9,000 to 218,000 vs. the consensus for 222,000. And Wholesale Inventories were up 0.4% m/m, in line with estimates, but up from last month's pace of -0.4%. The only economic report on tap for today is the Baker Hughes Rig Count report. All of the major indexes are currently up for the week with one more day to go. If they do it again, that will make it 5 weeks in a row for the Dow, S&P 500, Nasdaq, and mid-cap S&P 400. And one week for the small-cap Russell 2000 (although, it will be the second up week out of the last 3). The jury is still out on when the rate cuts will begin. Or how many we'll see. But the consensus is that rate cuts are coming. And that's bullish for stocks. Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Final Hours for $1 AI Stock Access]( Time's running out to be first to Zacks' newest tech pick that's posting Monday morning. This is the moment to look inside our Technology Innovators portfolio. We've recently closed a flurry of winners such as +1,007.1%, +121.0%, +118.8% and even +45.3% in just 6 days. But this new pick could beat them all. It could have much more upside than even NVIDIA moving forward. Click now for 30-day access to all our tech stocks. Deadline is midnight Sunday, February 11. [See Zacks Tech Stocks Now »]( Today's Top Research [Surging Momentum: 3 Tech Stocks on the Verge of Another Breakout]( These Big Tech stocks all reported impressive earnings, and all gapped up significantly following the meeting. [Read More »]( [The Trend Commandments (5 Lessons from Investing Legends)]( Stock Strategist Andrew Rocco unveils 5 key trend concepts learned from investing legends. [Read More »]( [3 Cheap Buy-Rated Tech Stocks with Big Growth]( For those seeking to blend value with growth, these three stocks fit the criteria. [Read More »]( [5 Stocks to Buy on Robust ISM Services Index in January]( Each of these stocks carries a Zacks Rank #1 (Strong Buy) or 2 (Buy) and looks likely to benefit in the near term. [Read More »]( [Top 5 Dividend-Paying Stocks Set to Beat on Earnings Next Week]( We have narrowed our search to five dividend-paying large-cap stocks that are poised to beat on earnings. [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 fund’s potential before you invest your money. [See Today's Top-Ranked ETFs »]( [Bull of the Day: Nextracker (NXT)]( While the solar industry faces challenges from higher interest rates, Nextracker defies the trend with its unique technology. [Read More »]( [New Zacks Strong Buys for February 9th]( 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 January 1, 2024. 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