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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

Stocks Down As Stimulus Talk Heats Up

Stocks closed lower yesterday, but they kept a large portion of the gains they made just the day before.

Stimulus talks will take center stage this week and next as Congress races to pass something before March 14th, which is when federal extended unemployment benefits start expiring.

While it's almost certain that something will get done eventually, it was interesting to hear JP Morgan Chase CEO, Jamie Dimon, warning against overdoing it.

Last year, while Congress took more than 6 months to get the last bill passed, everybody?s biggest concern was not doing enough. But now, with roughly $1 trillion still unspent from previous packages, Congress is debating another $1.9 trillion more. If that goes thru, Mr. Dimon believes we could see "gangbuster" growth for the rest of this year and into next.

Of course, growth isn't the problem, it's the worry of things overheating and what happens afterwards. But he admits, "we just don't know yet."

To me though, the key takeaway is the "gangbuster" growth. And with growth like that, we could see both the economy and the market soar.

And current forecasts for full-year GDP to come in at the fastest pace in 38 years, may need to be sharply increased.

Either way, what we're seeing right now is history in the making. And historic times usually bring historic price moves.

And it looks like there's a lot more upside to go.

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

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research


7 Tech Stocks to Buy Immediately

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