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Nice start to the week yesterday with all of the major indexes in the green and new highs across the board.
President Trump and Senate Majority leader Mitch McConnell held a press conference reiterating their commitment to getting tax cuts/reform done by year's end. The parade of optimism regarding tax cuts is energizing the market.
But that also means it's now more important than ever that they follow through and get this landmark legislation passed. For now, the market is believing this indeed will get done. Fingers crossed.
In other news, yesterday's Empire State Manufacturing Survey jumped up from last month's 24.4 to 30.2. That's more than a 23% increase. And compared to this month's estimate of just 20.0, that represents an even bigger 51% positive surprise.
The economic news has been very supportive of this bull market.
And with it now being earnings season, we should have even more good news to look forward too.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
One single idea changed Kevin Matras' life as an investor, enabling him to tap into the greatest force driving stock prices. In Finding #1 Stocks, Kevin reveals his top stock-picking secrets and strategies based on this powerful idea. Now you can claim a free copy of the 300-page hardcover book.
These strategies produced gains of 79%, 95%, even 153% in 2016 alone. You can take full advantage of them without attending a single class or seminar, in a lot less time than you think. Opportunity ends midnight Tuesday, October 17.
Use the Zacks Mutual Fund Rank, a quantitative ratings system designed to help you find the best funds to beat the market. See which ones to buy, which to sell and track your favorite mutual fund family.
Nice start to the week yesterday with all of the major indexes in the green and new highs across the board.
