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Profit from the Pros By Kevin Matras Executive Vice President
Major Indexes All Finish At Record-High Weekly Closes
Image: Bigstock
Stocks closed higher on Friday, and higher for the week. That also makes it 2 weeks in a row for the Nasdaq, and 4 weeks in a row for the small-cap Russell 2000.
Take note: the breaking out of small-cap stocks has long been considered a powerful bullish signal. And their continuing outperformance suggests even bigger moves ahead.
And there's good reason for stocks to be soaring as Q3 GDP just came in at 33.1% (which was the largest in history), with more gains expected in Q4, and forecasts for full year GDP in 2021 to grow at the fastest pace in 38 years!
Then when you add in the positive vaccine news (there's now three COVID vaccines in the pipeline that could be available by year's end), stocks are poised to soar even more. That's because these breakthroughs are being hailed as the catalysts that will finally let the world get back to normal. And when our entire economy comes back online (not to mention the rest of the world), that should make for an explosive rally.
In the meantime, our economic rebound continues to impress with report after report showing the economy beating expectations, and even setting records.
What we're seeing in both the economy and the market is history in the making.
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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Our 5 best-performing strategies have blown away the S&P's impressive +44.0% gain from 2017 through Q2 2020. Amazingly, they soared +50.9%, +93.8%, +122.2, +153.0%, and even +156.8%.
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Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »
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