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7 Months in the Green for Dow and S&P

The November episode of the Zacks Ultimate Strategy Session will be available for viewing no later than Wednesday, November 8th. Sheraz Mian, David Bartosiak, Tracey Ryniec, Brian Bolan and Kevin Cook will cover the investment landscape from most every angle in this popular event. 

Don't miss your chance to hear: 

• Sheraz and Kevin Agree to Disagree on why Valuations don't matter like they used to 
• Sheraz and Tracey answer your questions in Zacks Mailbag 
• Sheraz and Kevin choose one portfolio to give feedback for improvement 
• And much more 

Remember, we need your input. Please submit your questions for Zacks Mailbag and Portfolio Makeover by Thursday morning, November 2nd. Email now to mailbag@zacks.com. 

Then log on to Zacks.com and bookmark this page. 


October didn’t live up to its reputation as a challenging and volatile month for the stock market. Just the opposite actually. The Dow and S&P climbed 4.3% and 2.2%, respectively, over the past 31 days, marking 7 straight monthly increases for each. The NASDAQ was up 3.6% in October for its fourth consecutive monthly advance. 

The major indices finished the month on Tuesday with positive performances after a disappointing start to the week yesterday. The NASDAQ was the best performer with a rise of 0.43% to a new record of 6727.7. Meanwhile the S&P was up 0.09% to 2575.3 and the Dow advanced 0.12% to 23,377.2. Earnings season continues to back up the market’s valuations, while consumer confidence hit 125.9 in October for its best reading since late 2000. 

Along with earnings, the market will have a lot of other things to watch the rest of this week. We’ll finally get a look at the House’s tax bill tomorrow, which will likely be the big debate in Washington for the rest of the year. Needless to say, the market and the White House have their fingers crossed for passage as quickly as possible. There’s also a Fed meeting this week, but no one expects a rate hike. And President Trump will name the next Fed Chair, which is widely expected to be Jerome Powell. 

With all these things on the horizon, it’s not much of a surprise that the editors weren’t in a buying mood on Tuesday. However, Stocks Under $10 did add another oil name today, while Short List swapped out four positions. Learn all about it in the highlights section below: 

Today's Portfolio Highlights: 

Stocks Under $10: It’s back to the oil patch for Brian Bolan, who picked up Calumet Specialty (CLMT) for the portfolio on Tuesday. The company has a mixed earnings history, but its last two reports showed impressive positive surprises of 126% and 88%. And now it has an Earnings ESP of nearly 81% for the quarter being reported on November 10. The editor believes this stock is on an upswing and should benefit from the surge in oil prices. Learn a lot more about this new addition in the full write-up. 

Zacks Short List: The portfolio swapped out four names in this week's adjustment. Firstly, it shorted-covered these names:

• JD.com (JD, +6.7%)
• Blackhawk Network (HAWK, +2.1%)
• Incyte Corp. (INCY, +1.1%)
• Teradata Corp. (TDC) 


The new buys replacing these names are:

• Mercadolibre Inc. (MELI)
• Oneok Inc. (OKE)
• PTC Inc. (PTC)
• Yandex (YNDX) 


Learn more about this emotion-free portfolio that takes advantage of falling and volatile markets by reading the Short List Trader Guide.

Happy Halloween!
Jim Giaquinto

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