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S&P Poised To Close Higher For The Third Week In A Row, Nasdaq For The Fourth Stocks closed mostly higher yesterday with the Nasdaq leading the way. More earnings beats, both high profile and not so high profile names, helped push the market to more gains. Although, a high profile earnings miss by Amazon after the close yesterday, could weigh on stocks today. They reported a negative EPS surprise of -5.16%. That was more than a -26% decline vs. the same quarter a year ago. Higher shipping costs are being blamed. In all fairness, revenue was up nearly 24% y/y, and they posted a positive sales surprise of 1.91%. So sales are strong. But they did guide next quarter below the consensus. Stocks were down in after-hours trade by roughly -7%. So we'll have to see what happens during today's regular session. But we also saw some big name beats after the close as well like Visa, Intel, and Illumina. Bottom line is this earnings season is still coming in better than expected. And with stocks trading near their all-time highs, an upside breakout could be seen at any time. In other news, Weekly Jobless Claims fell by a more than expected -6,000 to 212K. Although, Durable Goods Orders fell by a more than expected -1.1% vs. expectations for -0.7%. But the PMI Composite report showed a gain with a print of 51.2, beating last month's 51.0 and views for 50.9. New Home Sales also beat expectations with 701K (annualized) vs. the consensus for 698K. All in all, we continue to get more good news than bad, and that's bullish for stocks. Best, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor Deadline at Hand: Get Finding #1 Stocks Free According to Zacks EVP Kevin Matras, the S&P will double in the next 5 years - and the next few months could be one of the strongest periods of this entire bull market. Today, Kevin is making his hardcover book, Finding #1 Stocks available to you for free. In it, he shares his best stock-picking secrets, including the exact formulas for strategies that recently produced gains of +96.9%, +119.0%, and even +158.9%. Opportunity ends when inventory is depleted and no later than midnight Saturday, October 26. Learn more now  >> Most Popular Articles from Zacks.com Electronics Testing Equipment Outlook: Solid Demand Ahead Increasing usage of electronic testing equipment and solutions in devices required in every major sector continues to be a tailwind for the industry. Read More » S&P 500 ETFs & Stocks to Buy on a Likely Great Rotation A low-rate environment, some upbeat earnings and gradual normalcy in the yield curve should move investors from bond to stock ETFs. Read More » Lessons on How to Build a Million Dollar Portfolio Anne Scheiber started with $5,000 and in the end her portfolio was worth $22 million. Here's how she did it. Read More » 5 Gold Stocks to Buy on October's Rate Cut Hope Buying pressure on gold is likely to remain firm as investors will focus on precious metals as a store of wealth and hedge against market turmoil. Read More » U.S. Laser Stocks Run as China Watches The industry has seen recent growth and is having its moment in the sun. Read More » Sponsor Increase Investment Returns with Free Zacks' Portfolio Tracker Follow your investments easily in one place. Get free email updates that alert you to major events affecting your stocks and funds, including timely recommendation changes, earnings announcements and, most importantly, earnings estimate revisions. Click to Learn More>> Bull of the Day: Callaway Golf Company (ELY) Shares have climbed over 35% in 2019 and might still have room to run heading into the company's upcoming Q3 earnings release. Read More » New Zacks Strong Buys for October 25th Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. 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