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More Jobs + Service Sector Growth = Stock Breakout
Here is the key quote from yesterday's commentary:
"Thursday brings some powerful reports including ADP Employment, Weekly Jobless Claims and ISM Services. If at least two of these reports are positive, in particular ADP, then it likely will boost stocks once again helping to confirm a breakout. Be prepared to act!"
ADP at 325,000 jobs added was above even the most optimistic expectations. That was shortly followed by another jobless claims report under 400K. And then ISM Services showed another month of expansion. This helped turn a negative open into a plus day for stocks and a 3rd straight session above the 200 day moving average.
So does that mean the stock breakout is confirmed? Get my take as well as the opinions from others in the Zacks community below:
Is the Breakout Official?
Best,
Steve Reitmeister
Executive VP, Zacks Investment Research
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Today's Top Stories: Friday- January 06, 2012
ZACKS RANK BUY STOCKS
- Aggressive Growth - Zumiez Inc. (ZUMZ) reported strong same store sales for the month of December, up 10% compared to the 4-6% estimates made by analysts. The sales in the five week period were up 18%. Read More...
- Growth & Income - Brinker International, Inc. (EAT) earnings per share came in at 30 cents, a 43% increase over the same quarter in 2011. It was also 3 cents ahead of the Zacks Consensus Estimate. Read More...
- Momentum - Conagra Foods, Inc. (CAG) revenue for the third-quarter was up 9% from last year to $3.4 billion. Earnings also came in strong at 47 cents, 12% ahead of the Zacks Consensus Estimate. Read More...
- Value - Huntsman Corporation (HUN) has a price-to-book of 1.2. A P/B ratio under 3.0 usually indicates value. It also has a price-to-sales ratio of just 0.2. A P/S ratio under 1.0 can mean a company is undervalued. Read More...
Learn how to profit from our exclusive Zacks Rank stock-ranking system with free resources. Read More...
ZACKS MUTUAL FUND RANK
- Top 5 International Mutual Funds Read More...
- Mutual Fund Homepage
BEST OF ZACKS EQUITY RESEARCH
- Bull Of The Day: AGCO Corporation
Full Zacks research report: Read More...
- Bear Of The Day: Urban Outfitters, Inc.
Full Zacks research report: Read More...
- Ahead of Wall Street
Read More...
- Zacks Industry Outlook: Hotels & Lodging Stock Outlook - Jan. 2012
Group bookings appear to be gaining momentum and the companies registered strong advance bookings and pricing for 2012 and beyond. Read More...
- Analyst Blog Highlights
- Zumiez Comps Soars Again
- UCB-Immunomedics Restructure Deal
- Still Neutral on Sealed Air
- Full Analyst Blog
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INVESTMENT IDEAS: 3 Energy Stocks Gushing with Growth
With crude back over $100, it's time to re-visit the explorers. Read More...
NEW ZACKS VIDEOS:
- All About Zacks Rank #3 Holds
- 2012 Market Outlook
- 2012 Investment Strategies
PeopleAndPicks.com:
VIP "JaiH" continues to reap returns from his BUY calls in (AAPL), (MCD) and (IBM). Read More...
BEST OF ZACKS.COM PARTNER COMMENTARY
- Stocks regain ground to end mixed @ CNNMoney.com
- White House Denies $1 Trillion Mortgage Fix: Report (Update 2) @ TheStreet.com
- Is the Economic Threat From Iran Overhyped? @ FOXBUSINESS.com
- Updates, advisories and surprises @ MarketWatch.com
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