It felt like Tuesday’s session was all about waiting for Wednesday. Tomorrow we will get the FOMC announcement for the meeting that started today. The Committee is not expected to make much news, but we all know that the market holds its breath whenever they get together. We’ll also receive the ADP employment report and ISM Services on Wednesday. So that left today without much fuel for the major indices, though they still were able to finish on the plus side. The S&P was up 0.12% today to 2391.2 and the Dow advanced 0.17% to 20,949.9. The NASDAQ finished higher by 0.06% to another new record of 6095.4. We’ll see tomorrow if the index can continue its record-breaking ways in the wake of a disappointing after-hours report from Apple, which saw an earnings beat but a miss on sales due to soft iPhone results. The portfolio action included three new picks for Healthcare Innovators, marking its 15th buy in its first week. Kevin wants to get it up to 20-25 names. Insider Trader and Stocks Under $10 also bought in the session. Finally, Short List swapped out three names in its weekly realignment. Today's Portfolio Highlights: Healthcare Innovators: The portfolio picked up three more names on Tuesday, including medical equipment supplier Baxter International (BAX) and vascular instrument maker AngioDynamics (ANGO). Both of these companies recently enjoyed raised price targets from institutions. Earnings estimates are on the rise for BAX after a strong earnings report. Due to its slow and steady potential, Kevin sees this stock as a“core ballast” for the portfolio. Meanwhile, sales estimates for ANGO are only reflecting 1% growth currently for the coming fiscal year, but that leaves room for upside surprises in a profitable small cap with lots of potential in an exciting health technology arena. The third buy today carries Kevin’s “Highly Speculative” warning. Sarepta Therapeutics (SRPT) is an emerging biotech company focused on RNA-based therapeutics. The company has one product in later-stage clinical trials that recently received some positive regulatory news. However, that is its only big product right now, so SRPT would be impacted severely on any of the normal biotech setbacks. The editor thinks its worth the risk right now, especially after beating sales in its first quarter and raising its guidance. Click the link above for more specifics on these buys. Insider Trader: Things are finally looking up for Cliffs Natural Resources (CLF), which is expected to see earnings jump to $1.51 this year from 43 cents last year. Also, analysts expect the company to be cash flow positive this year and next. But perhaps the biggest reason to be bullish on this iron ore supplier is the recent cluster buy. On April 28, four directors bought shares of their own company. Tracey looks for just this sort of thing for the portfolio, so she added it on Tuesday with a 10% allocation. Get a lot more info on this new addition in the complete commentary. Zacks Short List: The portfolio swapped out three names this week. The short-covered stocks that left the portfolio are: • Terex Corp (TEX, +1.1%) • Wynn Resorts (WYNN), and • Amazon.com (AMZN) The new buys that replaced these names are: • Incyte Corp. (INCY) • Apache Corp. (APA), and • Halliburton (HAL) Learn more about this emotion-free portfolio that takes advantage of falling and volatile markets by reading the Short List Trader Guide. Stocks Under $10: Analysts have more than halved the expected loss for Sonus Networks (SONS) this year. The Zacks Consensus Estimate was at a deficit of 25 cents three months ago, but today it’s only a loss of 10 cents. Brian Bolan likes the trajectory and thinks SONS could be profitable with a few more beats like in its last report. Therefore, the editor bought the stock today for the portfolio. The full write-up has more on SONS’ earnings history, valuation and the limit that Brian would like you to use. Momentum Trader: "Good news on a day where the market just managed to squeak itself in to the green. A major concern for markets a few weeks ago was Trump’s ability to get legislation passed. Skepticism ruled the day and traders were worried that he may not be able to get all these wonderful tax cuts and infrastructure spending plans approved. "Today the market really didn’t care that Trump’s budget got eviscerated and Congress passed a bill that essentially kicked the can down the road. "That’s great as far as I’m concerned because I like a stock market that moves up and down on its own merit not based on whether or not a vote is going to happen or not happen. The market now seems to be focusing on something much better, that’s earnings." -- Dave Bartosiak All the Best, Jim Giaquinto Before You Go... 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