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Markets Remain Near Their Highs

The markets were down modestly yesterday, but remain near their all-time highs.

Both the S&P and Dow are poised for another higher weekly close. And the Nasdaq only needs a small move up today to do the same. If so, that will make it two weeks in a row of gains.

Yesterday's Weekly Jobless Claims came in better than expected with new claims down by -23,000 at 259,000 vs. the consensus for 303K.

The Philadelphia Fed Business Outlook Survey also came in better than expected, jumping from 18.9 to 23.8. It was noted that 'new orders are pouring in', unfilled orders are seeing big monthly builds, and shipments are moving out with a 'frenzy'.

The Leading Indicators report also beat expectations, rising 0.4% vs. last month's 0.3% and views for 0.2%. Analysts cited this report as underscoring the current trend of 'solid growth'.

Clearly the economy is gaining momentum, and so are stocks.

For those looking to take full advantage of this momentum, be sure to read our latest commentary...

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Best,

Kevin Matras

Executive Vice President, Zacks Investment Research

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