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Markets Surge Higher On Earnings, More To Come

The markets surged higher yesterday with all of the major indexes, once again, making new all-time highs. (I'll never get tired of saying that.) The Russell 200 Small-Cap Index led the way with an outsized 1.73% gain. Always great to see small-caps in the leadership position as that shows a healthy appetite for risk which is bullish.

Strong earnings, great optimism on the growth impact of the tax cuts, and forecasts from some expecting GDP to soar to 4% or higher, propelled yesterday's rally.

Yesterday's Jobless Claims, which increased more than expected by adding 11,000 new claims at 261,000 vs. last month's 250K and views for 245K were quickly brushed off. Continuing claims, by the way, showed continued improvement, dropping another -35,000 to 1.867 million, which is a 44-year low.

Today, economic report-wise, we'll get the Consumer Price Index, Retail Sales, and Business Inventories.

The market has put in an auspicious start to the new year. Pretty exciting.

2018 could be shaping up to be one for the history books. Make sure you're taking full advantage of it.


Kevin Matras

Executive Vice President, Zacks Investment Research


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