On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into why U.S. stock indexes hit new highs amid U.S.-China trade war progress, interest rate cuts, and more. We also discuss some quarterly earnings results, including ride-hailing power Uber UBER. The episode then closes with a look at why The Boston Beer Company, Inc. SAM is a Zacks Rank #1 (Strong Buy) at the moment.
All three major U.S. indexes touched new highs yesterday, with the Dow Jones closing at its first new record since mid-July. The positivity came as reports continue to come out that the U.S. and China are closer to signing a so-called “phase one” trade deal, as President Trump seems more optimistic.
Meanwhile, the U.S. Federal Reserve and Chairman Jerome Powell appear less likely to cut interest rates again after the central bank last week cut rates for the third time since July. Federal Reserve Bank of San Francisco President Mary Daly then seemed to echo this sentiment with comments on Monday, after positive U.S. economic data came out last week.
Moving on, Uber stock tumbled Tuesday as Wall Street and investors continue to show their disappointment in the ride-hailing company and rival Lyft LYFT. Sportswear firm Under Armour UAA stock also fell after the company confirmed some troublesome news on the accounting front.
Software standout Adobe ADBE was able to shine Tuesday, before Wall Street turns its attention to Qualcomm QCOM, CVS CVS, Adidas ADDYY, Square SQ, Disney DIS, and others all set report later this week.
The episode then closes with why The Boston Beer Company looks strong as it pushes to expand its Truly Hard Seltzer business in the booming industry that has attracted the likes of Anheuser Busch Inbev NV BUD and other international powers.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Click to get this free report The Walt Disney Company (DIS) : Free Stock Analysis Report Square, Inc. (SQ) : Free Stock Analysis Report QUALCOMM Incorporated (QCOM) : Free Stock Analysis Report Anheuser-Busch InBev SA/NV (BUD) : Free Stock Analysis Report The Boston Beer Company, Inc. (SAM) : Free Stock Analysis Report Adobe Systems Incorporated (ADBE) : Free Stock Analysis Report CVS Health Corporation (CVS) : Free Stock Analysis Report Adidas AG (ADDYY) : Free Stock Analysis Report Under Armour, Inc. (UAA) : Free Stock Analysis Report Lyft, Inc. (LYFT) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research