For Immediate Release
Chicago, IL - October 24, 2016 - Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include McDonald's Corp. (NYSE: MCD - Free report ), Netflix, Inc. (NASDAQ: NFLX - Free report ), Goldman Sachs Group, Inc. (NYSE: GS - Free report ), Johnson & Johnson (NYSE: JNJ - Free report ) and Verizon Communications Inc. (NYSE: VZ - Free report ).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Friday's Analyst Blog:
Dow 30 Stock Roundup: MCD, GS, JNJ, NFLX
The Dow experienced a volatile week with earnings and oil prices dominating the proceedings. Third quarter results, particularly from banks, have been better than expected. Oil prices continue to have a major impact on proceedings. Stocks declined during two sessions due to adverse reports relating to oil production and inventories. The dollar continued to strengthen following the ECB's decision to leave rates unchanged.
Last Week's Performance
The index decreased 0.3% on Monday after a slump in oil prices weighed on energy stocks. U.S. oil rig count increased from 428 to 432 for the week ended Oct 14, rising for 15 times over the last 16 weeks. Also, reports from the IEA and OPEC showed that OPEC production in September rose by 33.64 million barrels and 33.39 million barrels, respectively.
Consumer discretionary sector also plummeted yesterday following declines in Dow component, McDonald's Corp. (NYSE: MCD - Free report ). Shares of McDonald's fell 1.5% on news that several senior executives will leave the company. McDonald's was the biggest loser among the Dow.
The index gained 0.4% on Tuesday, powered by upbeat earnings results Better-than-expected earnings results from Netflix, Inc. (NASDAQ: NFLX - Free report ), Goldman Sachs Group, Inc. (NYSE: GS - Free report ) and Johnson & Johnson (NYSE: JNJ - Free report ) had a positive impact on investor sentiment. Gains in UnitedHealth boosted the healthcare sector.
Meanwhile, pick-up in inflation raised December rate hike chances. CPI increased 0.3% in September, its highest increase in last five months. It was in line with consensus estimate of 0.3% gain. Moreover, CPI rose 1.4% over the past twelve months, its best gain since late 2014.
The index increased 0.2% for the second straight session on Wednesday. A rally in oil prices and encouraging earnings results from Morgan Stanley (MS) lifted stocks. The EIA reported that U.S. commercial crude oil inventories fell 5.2 million barrels to 468.7 million for the week ended Oct 14, in contrast to analysts' projections of an increase of 2 million barrels. Additionally, Saudi Arabia's oil minister Khalid Al-Falih said that non-OPEC nations are also "showing willingness to join" the effort to freeze production.
The index decreased 0.2% on Thursday following slump in oil prices and decline in telecom stocks. Continued crude oversupply concerns and stronger dollar had a negative impact on oil prices, which in turn weighed on energy stocks. Additionally, decline in shares of Verizon Communications Inc. (NYSE: VZ - Free report ) following its mixed third quarter results pulled telecom stocks downward. Moreover, European Central Bank's (ECB) decision to keep interest rates unchanged boosted dollar.
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free .
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Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
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