Stocks Hit Pause Last Week, But More Gains Expected

Stocks finished lower on Friday. And mostly lower for the week. But the small-cap Russell 2000 Index finished higher for the week, showing it's still risk-on for the market.

Trade talks and tariffs weighed on stocks late last week, but there appears to be real progress between the US and Mexico on a new NAFTA deal. Once a deal is agreed upon, it will then be presented to Canada. Granted, nothing has been etched in stone yet, but there's been real optimism around trade talks with the EU, Mexico (and likely Canada), and even Japan.

China will be the toughest problem to solve. But the headway the administration is making with others have many people hopeful that a deal can be made with China too.

After five weeks in a row of gains, it's not surprising to see the markets pull back a bit. But the economy looks as strong as ever. And with that, stocks should continue their march upward.

I've said it before and I'll say it again, the record economy and record corporate profits should usher in record gains for the market.

It's already become the second longest bull market in history at 9.3 years. Only another 3 more years to go to set the all-time record for longest bull market ever. And I have no doubt that's what we're going to see.

So treat every dip as a buying opportunity and every rally as your reward (and additional buying opportunity). This is history in the making. So make sure you're fully invested. Have only the best stocks. And don't squander this time. This will definitely be one for the ages. And gladly we have many more years to go!

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research

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