On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains discusses some of the latest U.S. and global economic updates that could help the stock market continue its climb in 2020. We then dive into FedEx FDX and Micron MU, with both firms set to report their earnings results in the next two days. And the episode closes with a look at why America's Car-Mart, Inc. CRMT is a Zacks Rank #1 (Strong Buy) stock right now.
The Dow, S&P 500, and Nasdaq all popped through morning trading Tuesday after they surged to new intraday highs Monday on the back of the phase one U.S.-China trade war deal. The agreement represents a de-escalation in the trade fight between the world’s two largest economies, which both also saw positive updates recently in terms of business growth.
In fact, IHS Markit now expects the U.S. economy to expand by 2.2% in 2020, which is higher than the Fed’s 2% growth projection last week. On top of that, U.S. unemployment remains at 50-year lows and the Fed is projected to keep interest rates low in 2020.
Meanwhile, Netflix NFLX stock climbed as the firm pointed to its growth outside of the U.S. as Wall Street’s worries grow based on increased competition from the likes of Apple AAPL and Disney DIS.
On top of that, FedEx stock slipped after Amazon AMZN said it would stop its third-party sellers from using FedEx's ground delivery network for Prime shipments. This isn’t a great sign for the struggling firm that is set to report its quarterly results after the closing bell Tuesday.
Peeking ahead, Micron will report its Q1 fiscal 2020 financial results after the closing bell Wednesday.
The episode then closes with a look at why America's Car-Mart is a Zacks Rank #1 (Strong Buy) stock right now.
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The Walt Disney Company (DIS) : Free Stock Analysis Report
America's Car-Mart, Inc. (CRMT) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
Apple Inc. (AAPL) : Free Stock Analysis Report
FedEx Corporation (FDX) : Free Stock Analysis Report
Micron Technology, Inc. (MU) : Free Stock Analysis Report
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