Markets Jump on US-China Trade Hope & Buy this Top Tech Stock – Free Lunch

The latest U.S.-China trade war news sent stock indexes to new highs. A look at some quarterly earnings results from Best Buy and others. And we close with why Zendesk (ZEN) is a Zacks Rank 1 (Strong Buy) stock right now... Read More...

On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains dives into the latest U.S.-China trade war news that sent U.S. stock indexes to new highs once again. We then take a look at some quarterly earnings results from Best Buy BBY and others. And we close with why Zendesk ZEN is a Zacks Rank #1 (Strong Buy) stock right now.

Technology stocks, from Intel INTC to Apple AAPL, helped lead a broader charge Monday, which continued Tuesday as China and President Xi Jinping remain more optimistic about the so-called phase one trade deal. Clearly, uncertainty remains as the U.S. and President Trump want China to commit to buying more farm products and better IP protections. But the positivity helped the Dow, S&P 500, and the Nasdaq all touch new highs Tuesday.

Meanwhile, the Conference Board released some disappointing U.S. consumer data Tuesday, but short-term strength remains. Best Buy helped show that U.S. consumers are still spending and plan to during the vital holiday shopping period. This helped BBY stock soar to a new high, as the technology and electronics retailer proves its strength alongside Target TGT and Walmart WMT.

Disney DIS stock also extended its run as its streaming service makes waves and has many thinking it could be a hit in the Netflix NFLX age. Dollar Tree DLTR and Hewlett Packard Enterprise HPE were not as lucky.

We then close with why Zendesk is a growth stock investors should consider buying right now. The software-as-a-service firm looks poised to expand alongside the likes of Salesforce CRM and many others as more businesses undergo digital transformations.

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