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Growth Outlook In US And Worldwide Bullish For Stocks

The markets kicked off the shortened holiday trading week in style with all of the major indexes in the green. And once again, the Russell 2000 Small-Cap Index led the way. As I've said before, it's always great to see the more 'risky' smaller-cap stocks leading the way as that's often a bullish sign.

Tax cuts will continue to dominate the news this week. But the Senate will not vote on their tax plan until after the Thanksgiving holiday. Nonetheless, there still seems to be plenty of optimism that this indeed will pass.

In other news, yesterday's Leading Indicators report showed a 1.2% gain, well above last month's upwardly revised 0.1% increase, and views for 0.6%.

But I should also note that while the US is gaining momentum economically, we're looking at growth picking up worldwide.

Goldman Sachs analyst Charles Himmelberg, in a piece last week, commented on how 2017 was a solid growth year, and that he expects 2018 to 'deliver more of the same'.

In fact, he's looking for the world economy to growth by 4% next year. But just like 2017 was a year of upside growth surprises, 2018 could be even better if growth continues to surprise to the upside yet again.

The market is well positioned to capitalize on all of this.

Be sure your portfolio is too.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research

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