Small Caps Try and Make it Three in a Row

Market Moves You Need to See Small Caps Try and Make it Three in a Row [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Small Caps Try and Make it Three in a Row [Small Caps Try and Make it Three in a Row]Image: Shutterstock This is Tracey Ryniec, Senior Stock Strategist and the Editor of the Insider Trader and Value Investor, filling in for Kevin today and tomorrow. What's going on at Apple? Yesterday's news that Apple has apparently canceled its project to create a new, luxury electric vehicle shocked many on the Street. Its EV, which wasn't really a secret in Silicon Valley, was expected to be at a luxury price point, as are all things Apple. But according to Bloomberg, Apple has thrown in the towel after a decade and will transfer those employees to AI initiatives instead. Is this a sign that the multi-year momentum in EVs is coming to an end? Or is it simply that Silicon Valley sees more money to be made in AI in the coming decade? Companies continue to report earnings with many of the retailers reporting this week as well as some big tech names like Salesforce, today after the bell, and Dell on Thursday after the bell. It seems like old times with Dell shares up over 100% in the last year. It's not just NVIDIA with momentum. Retail stocks have been a surprise winner over the last few months as the holiday season was better than expected. Also, consumers continue to spend at the shopping mall and online, so sales are holding up. There's some interesting economic data to keep an eye on later this week. In addition to the PCE data, on Thursday, Chicago PMI for February will be out in the morning. Last month it came in at 46, but that was above consensus. Consensus for February is looking for 48. That's still indicating contraction in Chicago manufacturing, but it is heading in the right direction, which is up. The old economy stocks have been hot, including Berkshire Hathaway which has been hitting new all-time highs. Stocks are forward looking and could already be looking out at a rebound in manufacturing later this year. Three Fed Presidents will be speaking today, the most highly watched is the Atlanta Fed President Raphael Bostic. Will any of them give any indications of their thoughts on rate cuts, or increases? These speeches can be market movers. The big cap stock indexes continue to trade near their all-time highs but it's been the small caps which have put in two green days in a row. The Russell 2000 was up another 1.3% yesterday. Many have been waiting for a small cap rally. Let's see if they can make it three in a row. I'll be back tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [7 Best Stocks Set to Soar in March]( At any given time, Zacks' rates 4,400 stocks. From these, there are only 220 Strong Buys. This is the list that beats the S&P 500 more than 2X over. Our experts just combed through the latest Strong Buys to hand-pick 7 compelling companies as most likely to jump the soonest. Previous 7 Best reports have recommended stocks that shot up +18.1%, +19.8% and +24.2% all within one month. [Hurry – be first to our brand-new 7 Best »]( Today's Top Research [Brian's Big Idea on Healthcare]( The world of healthcare stocks is unlike the rest of the stock market. [Read More »]( [Stock Splits: Should You Buy?]( A retail giant has recently undergone a split, hoping to make shares more accessible. But is buying post-split a viable strategy? [Read More »]( [2 Stocks in Cathie Wood's Portfolio to Watch Now]( These select stocks are well-poised to provide attractive returns soon. [Read More »]( [4 Crypto Stocks to Watch in the 2024 Ethereum Institutional Rally]( With Ethereum rising 33% YTD already, now is the time to keep a watch on the stocks which are exposed to this open-source, decentralized blockchain platform. [Read More »]( [How to Find Top-Ranked Stocks to Buy in March]( Investors can use this stock screen to help find potentially winning stocks to buy in March. [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: Toll Brothers (TOL)]( TOL has now surpassed the Zacks EPS Consensus for 16 consecutive quarters and posted an average earnings surprise of 30.16% in its last four quarters. 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