The S&P spent the past four days recovering from last week’s selloff, but it needed a little push to get over the finish line. The Fed was happy to oblige, as minutes from their meeting earlier this month showed agreement on shrinking its balance sheet. It also left a clear path to a rate hike in June. Before the announcement, the S&P had stalled just under 2400. But by the closing bell, it had gained 0.25% to 2404.4. The Dow is back above its own milestone as well, advancing 0.36% on Wednesday to 21,012.4. The two indices have completely recuperated from the selloff last Wednesday. The NASDAQ increased the most on a percentage basis, climbing 0.40% to 6163. In the portfolios, Surprise Trader added a retail company with “an incredible history”, while Large-Cap Trader picked up “the Facebook of Mainland China”. Also, Home Run Investor found a chip manufacturing company with a lot of momentum and Options Trader swapped out a position for more time. Learn about all these moves below: Today's Portfolio Highlights: Surprise Trader: Don’t let the department stores scare you away from retail. There are still some great stories in the arena, such as Ulta Beauty (ULTA). The company has “an incredible history” at earnings season, having not missed since the end of 2013. Now it heads into another report tomorrow with a modest yet positive Earnings ESP and a recent upgrade to Zacks Rank #2 status thanks to rising earnings estimates. Eric added ULTA to the portfolio on Wednesday with a 12.5% allocation. Read more in the complete commentary. Large-Cap Trader: A PEG ratio of 0.63 and a P/E Ratio of 10.55 is pretty low for a company that’s considered “the Facebook of Mainland China”. So John considered YY Inc. (YY) to be a great addition to the portfolio since he’s been looking for a new, cheaper region to invest. Plus, the company is a Zacks Rank #1, has a Zacks VGM Score of A and is part of a space in the Top 23% of the Zacks Industry Rank. He bought a 3% position in YY for LCT on Wednesday. Read his commentary for more. Home Run Investor: Ichor Holdings (ICHR) has only been public since December, but the chip manufacturing company has more than doubled in that time and is expected to post revenue growth of 40% this year. Dave thinks this could be just the beginning for the stock, especially since it is also ringing bells on his momentum screen. Therefore, the editor added ICHR to the portfolio on Wednesday. Learn more in the full write-up. Options Trader: There are still 46 trading days left for the portfolio’s two July calls in Amdocs (DOX), but Kevin went ahead and exchanged them for more time anyway. He sold to close the July 62.50 calls and bought to open two October 65.00 calls. Basically, the October calls would hold up better in the event that DOX shares stall or move lower. As the editor says: “the extra time will give us extra staying power”. Check out the complete commentary for more specifics. Zacks Counterstrike: "For most of the day we saw low volume activity and a tight range. The S&P futures just refused to break above the 2400 level. Traders were sitting on their hands waiting for the Fed minutes to come out, just to reassure that there were no surprises. Once the minutes were out, the buyers came in and drove price over that important 2400 psychological level. "Stocks ran into the close as traders sensed a breakout over that level. The S&P 500 closed 0.25% higher, while the Nasdaq saw a 0.40% gain. "The minutes didn’t give us anything new. The Fed is on course to raise rates and we will likely see a rate hike in June, 20 days from now. FedWatch is now pricing in an 83% chance of a hike." -- Jeremy Mullin All the Best, Jim Giaquinto Before You Go... Have you checked out the Special Reports section of Zacks Ultimate lately? A new one was released just yesterday. Click the link to find all of our recent offerings, including: • The 588% Revenue Explosion • 7 Best Stocks for the Next 30 Days • Making Money on Marijuana 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