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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...

Four Steps to Mastering Momentum Stocks


Kevin Matras

Executive Vice President, Zacks Investment Research


Get Ready for Monday's Market Bell

Today, gain instant access to 7 high-potential stocks inside Zacks Momentum Trader portfolio. You'll also be first in line to see an exciting new pick that will post Monday morning.

Most stocks that break out to new highs fizzle like shooting stars. Only a few continue their breakout momentum. Don't miss this chance to access our rare picks and discover how we find them.

What's more, you can download our just-released Special Report Zacks' 7 Best Stocks for the Next 30 Days. Hurry, this opportunity ends midnight Sunday, September 24.

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