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Great Start to the Week

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

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