Earnings Lift Stocks

Plus New Zacks Strong Buys for Friday, January 31

Profit from the Pros By Kevin Matras Executive Vice President

Earnings Lift Stocks Stocks closed solidly higher yesterday after shrugging off early morning weakness. The coronavirus continues to worry health organizations as the reported cases in China mount, and the number of countries it's spreading to rise. The U.S. Health and Human Services agency earlier in the week said, "at this point, Americans should not worry for their own safety." Nonetheless, with over 7,800 cases in China and at least 170 deaths, it's easy to see why people remain concerned. But the markets were able to look past that and focus on earnings again. Wednesday's after-hours beats by Microsoft and Tesla helped buoy the market yesterday. And yesterday's after-hours beats by Amazon (up 10.8% in after-hours trade), and Western Digital (up 5.1% in after-hours trade), should help the markets today. While the major indexes are still underwater for the week, it wouldn't take much for them to close up for the week. In fact, only a half percent rise puts them all in the green. If we can get a positive reading from this morning's Chicago Purchasing Managers Index, and Consumer Sentiment report, that could easily help the markets finish the week on a strong note. Best, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor 5 Stocks Set to Double: Sunday Deadline There's still time to get in on our 5 Stocks Set to Double. Each is the single favorite of a Zacks expert with the best chance to gain +100% and more in the months ahead: 1. New medical stock is growing rapidly. 2. Surging retailer that seems "Amazon-Proof". 3. Pullback makes this a perfect buying opportunity. 4. This beverage stock is near new highs. 5. This undervalued financial stock could surprise investors. Deadline to download this Special Report is midnight Sunday, February 2. See Stocks Now >> Most Popular Articles from Zacks.com 5 Top-Ranked Growth Stocks for February That Have Jumped YTD Although stock markets fluctuated in the last few days following the outbreak of coronavirus in China, fundamentals of the U.S. economy remain strong. Read More » Can MSFT & AAPL Stretch Their Valuations Any Further? The two giants have continued to dominate their fields of operation, impressing analysts and investors alike, despite already elevated expectations. Read More » 5 Must-Buy Top Stocks Poised to Gain on Earnings Next Week Each of these stocks carries either a Zacks Rank #1 (Strong Buy) or 2 (Buy) and has a positive Earnings ESP. Read More » Top 3 Picks to Play a Hot Home Construction Market The current U.S. home construction boom should have legs across 2020, going all the way to the end of 2021. Read More » Earnings Season Scorecard and Research Reports for Apple, PetroChina & Others This Research Daily features new research reports on 16 major stocks, including Apple (AAPL), PetroChina (PTR) and Lockheed Martin (LMT). Read More » Sponsor Increase Investment Returns with Free Zacks' Portfolio Tracker Follow your investments easily in one place. Get free email updates that alert you to major events affecting your stocks and funds, including timely recommendation changes, earnings announcements and, most importantly, earnings estimate revisions. Click to Learn More>> Bull of the Day: KB Home (KBH) The home builder looks poised to benefit from renewed life in the U.S. housing market and its 2020 outlook supports the recent statistics. Read More » New Zacks Strong Buys for January 31st Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. 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