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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
  

Small-Cap Russell 2000 Up For 2nd Week In A Row

Stocks closed lower on Friday, and lower for the week, although the small-cap Russell 2000 finished higher for the week, making it the 2nd up week in a row, and the 10th up week out of 11. Pretty impressive.

As you know the markets were closed yesterday for Martin Luther King, Jr. Day.

So today is the first day of the shortened trading week.

Political headlines will likely dominate the news cycle this week with inauguration on Wednesday, and the likelihood of a slew of Executive Orders to follow for the rest of the week. Not to mention more talk about the newly proposed $1.9 trillion stimulus/relief bill.

But earnings season also 'unofficially' gets underway so the markets will be focused on that as well.

And then we have the regular economic reports that will be coming out with MBA Mortgage Applications, the Redbook retail sales report, and the Housing Market Index on Wednesday; then Housing Starts and Permits, Weekly Jobless Claims, and the Philadelphia Fed Manufacturing Index on Thursday; and finally the PMI Composite Flash report, and Existing Home Sales on Friday.

Should be a busy week.

In the meantime, the markets are sitting at or near their all-time highs.

And it won't take much to get them to break out even higher.

Best,

Kevin Matras

Executive Vice President, Zacks Investment Research

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