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Plus New Zacks Strong Buys for Wednesday, September 11
Profit from the Pros
Stocks Up On Strong Economy And Consumer
Stocks closed mostly higher yesterday, erasing intraday losses to finish at their highs of the day.
The backdrop of a strong economy and record labor force continues to underpin the market.
In addition, traders are looking forward to the September 18th Fed meeting where interest rates are expected to be cut by at least a quarter point.
And optimism is growing for early October's face to face trade talks between the U.S. and China. And while few are expecting a full-blown trade deal next month, there's plenty of hope that a lessening of tensions or a 'trade truce' can be achieved, which could pave the way for an eventual trade agreement down the road.
The market was also buoyed by reports that U.S. household income has risen to its highest level in 20 years, and that the poverty rate has declined to its lowest level in 18 years.
This should come as no surprise to anyone following the monthly jobs reports and consumer confidence numbers. But it's always nice to see these stats in print to illustrate just how much our economy has improved and how much the consumer has benefited.
As I've mentioned before, I wouldn't be surprised if we see some more market volatility as we approach the decision on rates and trade talks. But I also wouldn't be surprised if we shoot up to new all-time highs in the meantime either.
Either way, I'd be a buyer on the dips, and a buyer on strength.
These are historic times for the economy and the market.
And it looks like there's a lot more upside to go.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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Stocks closed mostly higher yesterday, erasing intraday losses to finish at their highs of the day.
