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Stocks Off To A Great Start This Week, More Gains Expected
Stocks got off to a great start this week with all of the major indexes in the green.
As you know, I'm expecting a strong week in the markets this week. And with the S&P, the Nasdaq, and the Russell 2000 Index all within striking distance of new all-time highs, an upside breakout could finally ignite a sharp rally higher.
On stage this week will be any details coming out of the WH regarding the renewed trade talks with China. Nobody is expecting any breakthroughs this week. And even President Trump suggested the same. (Although, that could just be an attempt to lower expectations, which would make any announcement of progress to be cheered that much more.) But as I've said before, just getting the number 1 and number 2 economies talking again is a good thing.
We should also get some news regarding the NAFTA negotiations with Mexico. Last week, both the WH and Mexico expressed optimism over the talks and suggested an announcement could be coming within days. So the market is expecting to hear something from those talks this week, and the setup is that good news is coming.
Looking forward to more gains.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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Stocks got off to a great start this week with all of the major indexes in the green.
