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The economic reports continue to show that the US economy has plenty of muscle these days. Most impressive of which was Durable Goods followed by Consumer Sentiment. So basically that bodes well for manufacturing and the consumer (which is the majority of the economy less the government, which continues to spend all too freely.)
With the above strength in place, it is no surprise that stocks continue their trek north making new highs once again. This is taking place even as the 10 year Treasury is rising to 3%.
As I shared in previous commentary, we should expect that bond rates will rise as the taper comes into fuller effect. However, if the 10 year starts to push towards 3.5% then it does call into question the value of stocks as they are related as investment alternatives. We will continue to keep an eye on this relationship. For now the odds point to more upside ahead for stocks.
Steve Reitmeister (aka Reity...pronounced "Righty")
Executive Vice President
Zacks Investment Research
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After Zacks declared Tesla Motors (TSLA) a "Home Run Stock," it boomed more than +135% in just 4 months. Other recently closed gains from this aggressive growth strategy include Methode (MEI) +90.7% and Live Nation (LYV) +81.3%. Currently, a wireless communication stock has soared more than +172% and the end isn't yet in sight.
Now a company has emerged that could equal or surpass these gains. It will be posted as the New Year unfolds next week.
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