The Market Has Given Us A Lot To Be Thankful For

Another solid day in the market yesterday with all of the major indexes making new all-time highs in the process.

As we approach Thanksgiving, most of us stop and reflect on what we're thankful for. Family, friends and health usually top that list, as it should. But the market has given us plenty to be thankful for as well. Just one more thing you can add to your list of blessings this year.

Remember, we have a normal trading day today, although volume is likely to be light. We're off on Thanksgiving, of course. And then the market closes early on Friday. Just an FYI for those with trades you're looking to place.

In other news, yesterday's Existing Home Sales came in stronger than expected at 5.480 million units (annualized) vs. last month's 5.370 mil. and views for 5.440 mil.

Retail sales, via the Redbook report, showed y/y sales up 4.1%, which is sharply higher than last month's print of 2.3%.

And the Chicago Fed National Activity Index surged to 0.65, far surpassing last month's 0.36 and the consensus for just 0.20. With the 3-month average at 0.28, yesterday's numbers are more than 2.3 times a normal reading, which shows great strength in the economy.

As you can see, plenty to be thankful for.

Note, we won't be sending out a PFP issue tomorrow. So let me today wish you a Happy Thanksgiving!

See you on Friday,

Kevin Matras

Executive Vice President, Zacks Investment Research

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