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Plus New Zacks Strong Buys for Tuesday, November 12
Profit from the Pros
Stocks Pause As Markets Look To Continue Their Winning Streak
Stocks closed mostly lower yesterday, but continue to trade in record territory.
The market is coming off of an impressive winning streak (3 weeks for the Dow, 5 weeks for the S&P, and 6 weeks for the Nasdaq).
Everything that propelled the market higher over the last several weeks is still present now, including optimism over the upcoming signing of the U.S.-China trade agreement later this month.
And this is set against a backdrop of a strong economy (this year's annual GDP is pacing at a stronger rate than the average annual GDP of this entire 10¾ year expansion), historic unemployment (50-year low), consumer confidence near record highs (an important metric given that 70% of our GDP comes from consumer spending), household income at the highest level in 20 years, low interest rates, and corporate earnings that continue to impress.
Of course, that doesn't mean there won't be any more volatility as we head into the rest of the year.
But I'd be a buyer on any dip, and a buyer on strength, because it looks like there's a lot more upside to go.
It's not every day you get a record economy, and a record stock market.
This is history in the making.
So make sure you take full advantage of it.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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Stocks closed mostly lower yesterday, but continue to trade in record territory.
