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The markets, once again, surged to new all-time highs yesterday.
Relief that the government shutdown is essentially over after the Senate and then the House agreed to a Continuing Resolution to keep the government funded through Feb. 8th, sent the market higher.
That's not a lot of time. It's only 3 weeks. But within that period, it was agreed that a debate on immigration reform, which includes DACA, will take place.
Seems like we may just be kicking the can down the road until the next manufactured crisis takes place. But apparently that's how the government operates – at least in the Senate, which needs more than just a simple majority of 51 votes, but instead 60 votes, which means both Republicans and Democrats need to agree. In this hyper-partisan political environment, that can be tough. But it is what it is. So crisis averted for now, at least for the next 3 weeks.
But the markets continued to ignore DC as they did leading up to the shutdown. The market has more important things to worry about. Or should I say celebrate?
The economy is looking better than ever. And it looks like that's going to continue for some time.
In fact, not only is the US economy surging with the GDP more than doubling, the IMF said that global growth is being revised up as well and it's in part due to the US tax cuts!
These are historic times for the economy and the market.
Make sure you're taking full advantage of it.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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The markets, once again, surged to new all-time highs yesterday.
