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Profit from the Pros By Kevin Matras Executive Vice President
Stocks Up For The Week As Reopening Fuels Gains
Image: Bigstock
Stocks closed mostly higher on Friday, with all of the major indexes up solidly for the week.
Growing excitement over the reopening of our economy continues to fuel stocks.
All 50 states have now reopened their economies in some shape or form. While the reopening has been quite uneven throughout the country, there's been great enthusiasm and demand in the areas that have reopened. And people and businesses are eager to open up further.
More and more states are readying plans to do just that as June 1st approaches.
And as more and more of the country opens up, the more our economy will recover.
There was lots of activity over the 3-day Memorial Day weekend. Far more than anything we've seen over the last few weeks.
That shows the pent-up economic demand waiting to be unleashed. And once it is, stocks are expected to soar.
That's why top analysts continue to call for an "unprecedented" second half recovery.
If you thought the gains over the last couple of months were impressive (Dow up 31.6%, S&P up 32.1%, and Nasdaq up 35.9%), the gains to come are poised to be nothing short of epic.
And if predictions for a 20% increase in Q3 GDP are anywhere near correct, not to mention predictions for another double-digit growth rate in Q4 on top of that (we've never seen such a thing), we could be looking at the beginning of an historic rally.
So be sure you're taking full advantage of it.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
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