U.S. GDP Growth, Amazon Earnings Preview & Buy Delta Stock - Free Lunch

On today’s episode of Free Lunch here at Zacks, Associate Stock Strategist Ben Rains discusses the recently released U.S. GDP data, as well as some coronavirus updates.

We then dive into earnings results from the likes of Tesla (NASDAQ:TSLA) , before we preview what to expect from Amazon (NASDAQ:AMZN) after the closing bell Thursday. The episode then closes with a look at why Delta Air Lines, Inc. (NYSE:DAL) is a Zacks Rank #1 (Strong Buy) stock at the moment.

All three major U.S. indexes fell once again Thursday on coronavirus fears, as Wall Street tries to understand the possible impact on global economic growth in 2020. The virus has now infected more people than SARS did roughly 20 years ago.

Meanwhile, the U.S. Federal Reserve decided to leave its benchmark interest rate unchanged on Wednesday, as Fed officials remain on the lookout for how the global economy might impact the U.S. One day after the Fed’s announcement, the Commerce Department said Thursday that U.S. GDP climbed 2.3% in 2019.

Along with the more macroeconomic news, fourth quarter earnings season has kicked into high gear. Microsoft (NASDAQ:MSFT) and Tesla (NASDAQ:TSLA) both crushed Wall Street estimates. Meanwhile, Coca-Cola (NYSE:KO) shares popped and Facebook (NASDAQ:FB) fell.

Looking ahead, Visa (NYSE:V) and other giants are set to report after the closing bell Thursday, with Caterpillar (NYSE:CAT) , Exxon Mobil (NYSE:XOM), and Chevron (NYSE:CVX) scheduled for Friday morning. Despite all the big names, many eyes on Wall Street will be watching Amazon closely after the bell Thursday.

Amazon stock has unperformed the market as it spends to roll out one-day Prime shipping to help fight back against the likes of Walmart (NYSE:WMT) and Target (NYSE:TGT) .

The episode then ends with why Delta is a Zacks Rank #1 (Strong Buy) stock at the moment, within a strong industry.

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