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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

S&P And Nasdaq At New All-Time Highs

Stocks closed mixed yesterday with the Dow eking out a new intraday high, but could not hold it by the close; the S&P eking out a new high, which it could hold by the close; while the Nasdaq decisively made a new high and close.

At the moment, all of the indexes are on pace to close higher for the week. And it won't take much to keep it that way.

Talk of more stimulus and strong earnings have been the story this week.

We should see how stimulus negotiations go shortly. The new administration and Congress have made it a priority to get something done quickly.

The strong earnings season continues. Lots of big banks and financial companies posting impressive numbers so far. We've got 53 more companies on deck today. Another 555 next week. Then another 808 the week after. And even more after that.

Earnings season is always an exciting time since stocks usually go up during earnings season.

In other news, Housing Starts and Permits rose to 1.669 million units (annualized) vs. last month's upwardly revised 1.578M and views for 1.558M. Pretty impressive. And that puts December starts and permits at a 14-year high!

Weekly Jobless Claims fell -26,000, as expected, to come in at 900K.

And the Philadelphia Fed Manufacturing Index rose more than expected to 26.5, well above last month's 9.1 and views for 11.0.

Today we'll get the PMI Composite Flash report, and Existing Home Sales.

In the meantime, 2021 is off to a great start. And it looks like there's a lot more upside to go.

So make sure you're taking full advantage of it.


Kevin Matras

Executive Vice President, Zacks Investment Research


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