Stocks closed mostly higher yesterday with only the Nasdaq ticking down -0.29%. But for context, they hit a new all-time high and close the day before. The small-cap Russell 2000 yesterday was the outperformer gaining 0.87% while making another new all-time high and close in the process.

Both the Nasdaq and the Russell are poised for another up week. And it won't take much for the Dow and the S&P to do the same.

As you know, Congress passed a stimulus bill earlier this week. But on Tuesday evening, the President expressed his unhappiness with the bill's $600 check and asked Congress to increase it to $2,000 ($4,000 for a couple), along with getting "rid of the wasteful and unnecessary items" in the bill.

It is unclear what that means for the fate of the relief package. And while there's been bipartisan support for the increase, not everybody is on board. Whether we get an amendment, or a new bill, or nothing new remains to be seen. Then the question is, if nothing new, does the President sign it or not?

Interestingly, the market was mostly higher in spite of this uncertainty. And it's likely because there appears to be enough votes to override a veto if that's where it's headed.

So the likely worst case scenario is the bill goes thru as is. Best case is Congress increases the amount and the checks that go out are even larger. Either way, there appears to be little downside regarding this bill right now. That could always change. But that seemed to be the feeling yesterday.

And it should be noted that even prior to the President's comments, we were already hearing that another stimulus bill was likely to be put forth early next year, in addition to the one just passed.

So whether we get more money now, or more money later, it looks like more money is coming sooner or later.

In other news, Weekly Jobless Claims fell more than expected, dropping by -89,000 new claims to 803K vs. views for 875K.

And Durable Goods Orders rose more than expected at 0.9% vs. estimates for 0.6%, thanks to transportation purchases. Ex-transportation, the gains were 0.4% vs. views for 0.5%. But seeing the transportation purchases go up, given how travel has been impacted during the pandemic, is great to see.

In the meantime, the economy is looking strong, in spite of the challenges it's facing with the increase in cases.

The 3rd and final estimate for Q3 GDP was just bumped up from 33.1% to 33.4%. A new record. Q4 GDP, according to estimates from the Federal Reserve Bank of Atlanta, is expected to come in at 11.1%. And aside from last quarter, that would be the highest quarterly growth rate in more than 37 years. And full-year GDP in 2021 is expected to be the best in 38 years!

So it looks like there's a lot more good news ahead for the economy. And a lot more upside to go for the markets.

Take note, the market will close early today at 1:00 pm ET for Christmas Eve.

And, of course, the market will be closed on Friday for Christmas.

So today's shortened session will be the last trading day of the week.

But the year's not over yet as regular trading will resume on Monday.

So if you're looking for a few new stocks to add to your portfolio by year's end, or for next year, and you happen like tech (who doesn't, it's been on a tear this year), be sure to read our latest commentary...

The Best Tech Stocks for Your Portfolio

Happy Holidays and Merry Christmas,