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 Friday, October 16th |
| Good Morning The market began the day on weak footing Thursday but buyers were waiting in the wings. Growing anxiety over the long-awaited next-round of fiscal stimulus has the market on edge. Despite this, bargain hunters used the opportunity to scoop up stocks expected to do well in this earnings cycle. The transports led the day with the Dow Jones Transportation Average gaining nearly a full percent to close at the high of the session and at a new all-time high.
While anxiety over stimulus has the market on edge it is the earnings that have stocks moving higher. The story this quarter is the same as last, companies well-positioned for the pandemic should continue to do well and perform above their consensus estimates. The next hurdle for investors will come next week, however, as earnings season ramps up to full speed. If the S&P 500 can claw its way to a new all-time high it should continue to move higher through the holiday season.
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On September 28th, the IdeaEngine suggested AutoZone. Seven days later, that stock was up 3.8% On September 21st, the IdeaEngine suggested Monolithic Power Systems. Seven days later, that stock was up 4.4% On September 7th, the IdeaEnine suggested Williams-Sonoma. Seven days later, that stock was up 8.1% . The IdeaEngine has had some great stock ideas recently, but do remember that it is an algorithm. It's not always right and it should be only part of your research process.
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The Early Bird Stock Of The Day  Monolithic Power Systems, Inc. designs, develops, and markets integrated power semiconductor solutions and power delivery architectures for consumer, computing and storage, industrial, automotive, and communications markets. It offers direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as portable electronic devices, wireless LAN access points, computers, monitors, automobiles, and medical equipment. The company al... | | | |
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