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Profit from the Pros By Kevin Matras Executive Vice President
Stocks Up, Small-Cap Russell 2000 Hits New All-Time High
Image: Bigstock
Stocks closed higher yesterday, with the small-cap Russell 2000 leading the way and making another new all-time high and close in the process.
The markets continue to look toward the future – a future with a receding pandemic (thanks to the vaccines), and robust growth as the world gets back to normal.
Q4 GDP is forecast at 8.7%, which, aside from last quarter's unprecedented 33.4%, would be the highest quarterly growth rate in 31 years. And full year GDP for 2021 is expected to grow at the fastest pace in 38 years.
And there's talk of another stimulus package to be put forth later this month or early next month.
Regarding the latest one that was just signed into law, checks have gone out, unemployment benefits are kicking in, and the Paycheck Protection Program (PPP) just reopened on Monday. That was a vital piece of the last bill and helped small businesses keep from going under. The reopening of this program (applications can be submitted thru March 31), should help more small businesses just like it did last time. And with it, provide a lifeline to those businesses in need, and help boost the economy!
Even though there are still challenges with the virus, and it will take some time before we reach critical mass on vaccinations, we are moving in the right direction. And as more states and cities reopen more and more of their economies, people will get their livelihoods back and the economy will grow even more.
So it looks like there's a lot more upside to go for the economy.
And a lot more upside to go for the markets.
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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