What an ironic day. The Dow climbed more than 100 points due to good news on…trade! And the NASDAQ plunged more than 1% on bad news for…Facebook! Hopefully, you’re not too dizzy from this topsy-turvy session. Let’s begin by accentuating the positive. The Dow finished a third straight day in the green by advancing 0.44% (or nearly 113 points) to 25,527.1. In addition to some positive earnings reports, the index is still reacting to the meeting yesterday between President Trump and European Commission President Jean-Claude Juncker that provided encouraging headlines on trade for a change. The two agreed to continue talking about lowering tariffs. But of course, the main event today was Facebook, which had the worst single day in its history by plunging practically 19%. The social media giant kicked the market right in the gut yesterday with a disheartening quarterly report that included soft daily active users and a miss on revenue. Needless to say, the NASDAQ took it the hardest and slumped 1.01% (or about 80 points) to 7852.2. Just yesterday, the index was at a new high. The S&P was right in the middle with a 0.30% decline to 2837.4. But we didn’t have to wait long for a break from this tech despondency. After the bell, online retail leader Amazon reported second quarter earnings that doubled expectations on a slight miss in revenue. As of this writing, shares of AMZN are up more than 3.2% in after hours. That’s all for the FANGs. The score card is Alphabet and Amazon up, Netflix down and Facebook waaaaaay down. All in all though, stocks held up relatively well during the disappointments, which is good to see for a market that pays so much attention to a handful of names. In the portfolios, Dave added a building products company that reports next week in Surprise Trader and an energy solutions company on the way up in Momentum Trader. Also, Technology Innovators picked up a cloud company that seems ready to be squeezed. Read more in the highlights section below: Today's Portfolio Highlights: Surprise Trader: Living in a hurricane zone like Florida, Dave really understands the importance of strong building products. He also understands what it takes to be successful during earnings season, which is why he picked up a 12.5% allocation in PGT, Inc. (PGTI), a Zacks Rank #1 (Strong Buy) maker of impact-resistant windows and doors. The company has a positive Earnings ESP of 9% for the quarter coming on Monday before the open and is part of space (building products) in the top 23% of the Zacks Industry Rank. Read the full write-up for more on this new buy. Technology Innovators: As you probably already know, Brian Bolan likes to pick up stocks with big short positions every now and then. Such was the case today as the editor bought Benefitfocus (BNFT), a Zacks Rank #2 (Buy) provider of cloud-based software solutions. The company reports next week on August 2 and has amassed a four-quarter average surprise of more than 32%. In its previous report, BNFT topped the Zacks Consensus Estimate by more than 31%. However, Brian is most interested with its huge 15% short interest position, which could launch the stock well over $40 in the event of a squeeze. Read the full write-up for a lot more on this addition. Momentum Trader: A strong earnings report has sparked a surge in momentum for Helix Energy Solutions (HLX), a Zacks Rank #2 (Buy) provider of specialty services to the offshore energy industry. The stock has already taken out the 2017 highs, and Dave thinks the next step is the 2016 highs at more than $11. Therefore, he added HLX today with a 12.5% allocation. Read the full write-up for more. Counterstrike: "Even with the Nasdaq lower, the rest of the market held up pretty well. This tells us that the overall market isn’t really worried about other companies and that this is more likely a stock specific issue with Facebook. "We saw Amazon tonight, which did not disappoint. The numbers were funky because of a forex calculation, but the company beat by a lot. And after the stock spiked 100 points lower, its rallied that much and is now at all-time highs as I type. This should help all tech stocks tomorrow and unwind the damage done by Facebook. "If I had to guess, we will be higher tomorrow. Of course, GDP is out tomorrow and can change everything." -- Jeremy Mullin All the Best, Jim Giaquinto Recommendations from Zacks' Private Portfolios: Believe it or not, this article is not available on the Zacks.com website. The commentary is a partial overview of the daily activity from Zacks' private recommendation services. If you would like to follow our Buy and Sell signals in real time, we've made a special arrangement for readers of this website. Starting today you can see all the recommendations from all of Zacks' portfolios absolutely free for 7 days. Our services cover everything from value stocks and momentum trades to insider buying and positive earnings surprises (which we've predicted with an astonishing 80%+ accuracy). Click here to "test drive" Zacks Ultimate for FREE >> Zacks Investment Research