Stocks Closed Lower Heading Into End Of The Week

Plus 5 New Strong Buys for Today ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

Stocks Closed Lower Heading Into End Of The Week

	Profit from the Pros By Kevin Matras Executive Vice President
	Stocks Closed Lower Heading Into End Of The Week Image: Bigstock Stocks erased Wednesday's sharp gains and are now lower heading into the end of the week. Wednesday's snapback was exactly what the market was looking for. The powerful rally had technician's on the lookout for a follow-through day. (Following a strong rally off the lows, a second strong up day should follow suit – that means another rally of 1% or more, with the strongest follow-through days coming between days 4 and 7. Stocks can go up or down in the meantime, but they should not take out the lows seen on day 1.) Yesterday's pullback undercut Wednesday's lows, so the count starts anew once a sharp rally is posted. That could be today, or next week, or whenever. Once we get that rally and a follow-through day, that could signal that a new uptrend could be starting. In other news, yesterday's final estimate for Q2 GDP came in at -0.6% as expected, confirming that we unofficially entered into a recession. (With Q1's -1.6%, that made it two quarters in a row of negative GDP, which is the technical definition of a recession.) Personal Consumption, BTW, was revised higher to 2.0% (annualized) from the previously reported 1.3%. And Weekly Jobless Claims came in better than expected, falling by -16,000 to 193K vs. last week's downwardly revised 209K and views for 218K. Today we'll get Personal Income and Outlays, the Chicago PMI, and Consumer Sentiment. Today also marks the last trading day of the week, month, and the quarter. Q4 typically marks the best quarter of the year for stocks. After a such a challenging year, we could use it. Couple that with S&P valuations at multiyear lows (and trading below their 5-year average), along with a strong labor market, strong earnings, strong consumer spending, and strong GDI growth, not to mention a very oversold market, and there's plenty of reason to believe that this Q4 could be getting ready for a big end of year rally. Best, Kevin Matras Executive Vice President, Zacks Investment Research
	Alert: Buy These Ultimate Four Stocks Now There's still time to get in early. These aren't just 4 promising stocks. They were handpicked from hundreds of strong companies by Zacks' experts because they present the greatest upside for Q4: Stock #1: Little-known but highly influential tech stock with clients like Apple and Nvidia. Stock #2: Cutting-edge streaming company ready to break out. EPS estimates are up 25% in 30 days. Stock #3: An under-the-radar alternative energy company with estimates for 70% in topline growth. Stock #4: Chemical company poised to become the dominant supplier of materials for EV batteries. Deadline to download our just-released Ultimate Four Special Report is Sunday, October 2. See Stocks Now »
	Most Popular Articles from Zacks.com 4 Stocks Trading Near 52-Week High That Can Climb Further Stocks hitting their 52-week high and delivering consistent performance in the past few quarters offer attractive opportunities. Read More » 3 Stocks to Watch in the Promising Agriculture - Products Industry With the Agriculture - Products industry set to gain from solid demand, these stocks are poised to ride on this positive trend. Read More » Uranium ETFs to Play the Nuclear Renaissance Director of ETF Research Neena Mishra speaks with John Ciampaglia, CEO of Sprott Asset Management, about nuclear energy and uranium ETFs. Read More » 4 Retail Stocks That May Be Good Buys Ahead of Holiday Season We have highlighted four stocks from the Retail - Wholesale sector that look well positioned based on their sound fundamentals. Read More » Make a Wish List of Value Stocks Stocks are cheap. Which ones should be on your wish list? 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: Cracker Barrel Old Country Store (CBRL) This restaurant stock is coming into a buy zone. Read More » New Zacks Strong Buys for September 30th Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »
	More Zacks Resources Mobile App Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com.
	Zacks Members' Success Stories Visit Success Stories to hear how Zacks research, tools and portfolios help our members outperform the market.
	Get all of our market insights and much more when you connect with us.
	This free resource is being sent by Zacks.com. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms of Service". www.zacks.com/terms_of_service Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through September 12, 2022. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance_disclosure for information about the performance numbers displayed above. Zacks Emails If you would prefer to not receive future profit-producing emails from Zacks.com the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please click here and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com . Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606