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Plus 5 New Strong Buys for Today
Kevin Matras   
Profit from the Pros
By Kevin Matras
Executive Vice President 		Zacks Investment Research
  

Stocks Up Again As Economic Reopening Expands

Stocks closed higher again yesterday as the economic reopening expands.

While the rioting continues in many parts of the country, it looks like most of the cities and states are finally doing something about it.

The tragic violence, vandalism, and looting of businesses is heartbreaking. Especially for those who have endured such hardships during this lockdown.

But those who can open are anxious to do so. And the communities they operate in are eager to support them.

We will get another Employment Situation report on Friday. And it's expected to be ugly. Even uglier than the last one with another -7.725 million jobs lost, and a 19.8% unemployment rate.

But the conditions that fostered those numbers are a snapshot of the past. And one that we are rapidly moving away from.

That's why stocks are up so sharply with the S&P up by more than 40% from the pandemic lows, while the Nasdaq is up by nearly 45% and is actually positive for the year.

Stocks are in a confirmed bull market.

And in spite of the big gains we've already seen, it looks like it's just getting started.

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research

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