Dow Logs First Green Close of the Week

Shutterstock photo

The Dow has been most susceptible to trade war concerns in the wake of President Trump's tariff moves. So it's a bit ironic that this index was the only one that broke its losing skid on Thursday. It advanced 0.47% (or about 115 points) to 24,873.7, putting an end to three days of losses.

But it's counterparts didn't come along for the ride. The S&P just finished its fourth day in the red with a slip of 0.08% to 2747.3. Meanwhile, the NASDAQ dropped 0.20% to 7481.7 for its third day on the negative side.

Despite strong economic data on jobs and manufacturing today, the market continues to fret about tariffs and trade. As if that weren't enough, the market may already be sweating next week's Fed meeting and likely rate hike.

"Markets might be in a wait and see mode before next week. The Fed will likely raise rates and give some insight into what might come the rest of the year. If they give any clues into four plus hikes, stocks will likely sell off. On the other hand, only three hikes and the atmosphere will be bullish," said Jeremy Mullin in Counterstrike .

In the portfolios, Home Run Investor had a huge nearly triple-digit profit, while Counterstrike and TAZR Trader each added to their services. Learn all about today's moves in the highlights section below.

Today's Portfolio Highlights:

Home Run Investor: Brian Bolan decided it was time to take a huge profit out of cloud-based education company 2U (TWOU). The stock had been in the portfolio for almost a year and left with an approximately 100% profit. The editor might have a replacement pick tomorrow.

Counterstrike: Back when the portfolio first bought Athena Health (ATHN) in early February, Jeremy took a smaller 5% position just in case the selloff wasn't over. These days, the market has stabilized a bit and ATHN's chart is still looking great. The editor thought this was a good time to add 5% more to the position and bring it up to a full 10% allocation. He has a price target of $173. 

In a more opportunistic move, Jeremy also doubled his allocation in Macy's (M) on Thursday to a full 10% position. He read this morning's quick sell-off as a chance to buy more of a company that seems to be turning things around after a beat-and-raise quarter. The stock has also been weathering the market's volatility quite well. The editor wants to get in under $30 before it moves higher again. The portfolio also short covered Papa Johns (PZZA) for an 8.6% return. Read the full write-up for more on these moves.

TAZR Trader: Shares of YY Inc. (YY) pulled back a bit after its quarterly report earlier this month, which gave Kevin a perfect opportunity to add this Chinese communication social platform. Earnings estimates are on the rise, as are the outlooks and price targets for several big banks. The editor has been looking to get more exposure to the largest social media market in the world, so he added YY on Thursday with a 7% allocation. See the full write-up for more.

All the Best,
Jim Giaquinto

Recommendations from Zacks' Private Portfolios:

Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >>

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: ATHN , M , TWOU , YY , PZZA

More from Zacks.com




Equity Research

Research Brokers before you trade

Want to trade FX?