Stocks Up For The Week, Setting New Record Highs

Stocks closed higher on Friday, and for the week, with all of the major indexes making new all-time highs in the process.

As I've been saying, the markets are in a great spot right now.

Stocks should continue to respond well to the positive economic news.

And with the Fed reiterating their support for a rate cut to "sustain the expansion" if needed, even a little bit of bad news could be good for the market.

Expectations are high that the Fed cuts rates by at least a quarter point at their next FOMC meeting on July 30th and 31st. And odds are growing that we could see a cut of a half a point or more by year's end.

We also have earnings season officially beginning this week (Wednesday, 7/17, when Alcoa reports after the market's close). Since stocks typically go up during earnings season, that's yet another reason for the markets to keep their upward momentum going.

These are historic times for the economy and the market.

And with it comes historic opportunity.

So make sure you're taking full advantage of it!

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research

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