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Last Trading Day Of The Year (Actually Half A Day)
The markets finished narrowly mixed on the penultimate trading day of the year.
Just one more day left (half day actually) and 2017 will come to a close.
In spite a relatively slow day, there were several economic reports out.
Weekly Jobless Claims were unchanged from the previous week at 245,000. New Claims continue to hover near the expansion lows.
Wholesale inventories were up 0.7% while retail inventories were up 0.1%. Analysts noted that both readings, which improved from their last time out were 'both positives for GDP'.
And the Chicago Purchasing Managers Index surged to its best reading of the year at 67.6. In fact, it was the best reading in 6½ years. And the production component now stands at a 34-year high.
The market proved a lot of pundits wrong this year.
But we have been bullish all year long.
And I expect another fantastic year again next year!
Happy New Year,
Kevin Matras
Executive Vice President, Zacks Investment Research
Position your portfolio for outperformance in 2018 with our most powerful long-term recommendations. From a universe of more than 4,000 stocks these 10 have been handpicked as the best buy and hold stocks for the year.
Get in on these 10 profit opportunities when they're released on Tuesday, January 2.
Stocks from the Russell 2000 index have seen exceptional growth on the back of tax cuts, improving domestic economy and a rising rate environment. Read More »
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The markets finished narrowly mixed on the penultimate trading day of the year.
