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Stocks Add To Their Gains, Tariffs On Mexico Averted

Stocks continued their winning ways where last week left off.

Traders cheered the deal with Mexico which averted tariffs, optimism was on full display over the expected meeting between President Trump and President Xi at this month's G20 summit, and a fine enough jobs report last week, while underscoring a growing economy, also helped underscore a more accommodative Fed policy.

All bullish developments, and the market responded accordingly.

The markets are once again within striking distance of breaking out to new all-time highs.

It likely will take an actual deal between the U.S. and China to see this breakout. But I wouldn't be surprised to see the indexes get closer and closer to this point in anticipation of such a deal occurring this time.

In the meantime, I fully expect plenty of individual stocks to continue to breakout to new all-time highs in the interim.

As I wrote yesterday, last week's performance was one for the history books.

And I would not be surprised to see another strong week this week.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research


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