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Profit from the Pros By Kevin Matras Executive Vice President
Stocks Up In A Strong Start To The Week
Image: Bigstock
Stocks closed up yesterday with the large-cap Dow and the small-cap Russell 2000 index leading the way with 2.17% and 2.77% gains respectively.
But there was green all around on optimism over reopening the economy.
All 50 states have now reopened their economies in some shape or form, with more and more areas readying plans to open even further.
The economic numbers we've been getting, and will continue to get for the next several weeks, will still look bleak. But that's because they are a reflection of the past.
But that's a snapshot in time we are rapidly moving away from.
Next month we'll start seeing a much brighter picture as it begins to include businesses reopening, employees getting back to work, and people getting out of the house and spending money.
There's a great pent-up economic demand waiting to be unleashed. And once it is, that will be reflected in the data, and stocks are expected to soar even more.
Top analysts are already calling for Q3 GDP to be the biggest in U.S. history (likely 20% or more), with another double-digit growth rate in Q4 on top of that.
These are record, never before seen numbers. And that is likely to lead to a record, never before seen rally.
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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