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Stocks Hit New Record Highs, Winning Streak Poised To Continue
Stocks closed higher across the board, with the S&P on pace for its fifth weekly gain in a row, and the Nasdaq poised for its sixth.
Growing optimism over the upcoming signing of the U.S.-China trade agreement later this month, continues to fuel stocks. Even more so as both countries indicate a deal would include the removal of tariffs.
The phase one deal and tariff relief is expected to not only increase economic growth in the U.S. and China, but will likely increase growth elsewhere as the two largest economies increase business activity with their other trading partners as well.
Stocks have surged to new all-time highs on the news.
In other news, yesterday's Weekly Jobless Claims came in better than expected with a decrease of -8,000 new claims at 211K, further underscoring the strength of our economy and the historic strength of the labor market.
And this morning we'll get another look at the consumer with the Consumer Sentiment report (always an important metric given that 70% of our GDP comes from consumer spending).
Stocks have been on a tear. And it looks like there's a lot more upside to go.
That means a strong finish to the end of the year.
And another banner year next year as well.
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
With the market booming to new highs as the world's two largest economies work to settle their differences, investors should look back into equities. Read More »
We selected tech stocks that have skyrocketed in the past six months despite facing trade-induced market volatility and still have upside left. Read More »
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Stocks closed higher across the board, with the S&P on pace for its fifth weekly gain in a row, and the Nasdaq poised for its sixth.
