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Profit from the Pros By Kevin Matras Executive Vice President
Stocks Hit Pause Yesterday After Strong Start To The Week
Image: Bigstock
Stocks closed modestly lower yesterday after the Dow and S&P set new all-time highs the day before.
Last week's fantastic jobs report sent stocks soaring on Monday, and helped underpin stocks yesterday.
The economic numbers we have been getting are showing an economy that is rapidly improving, and primed for big growth ahead.
In other news, yesterday's Redbook report showed same store retail sales up 10.6% on a y/y basis, up from last month's snapshot of 9.8%.
Later today we'll get a look at housing with the MBA Mortgage Applications report. We'll also get a look at trade with the International Trade in Goods and Services report. And we'll get the FOMC Minutes.
The Senate will soon take up the latest $2.25 trillion infrastructure package, and the proposed corporate tax increase to pay for it.
And the administration is expected to unveil an additional stimulus package later this month, which could equal another $1 trillion, and a whole new set of tax hikes to pay for it, this time by individuals.
In the meantime, the market is focused on the impressive economic recovery that's underway, and which only looks to get stronger.
And that means it looks like stocks have a lot more upside to go.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
The shrewd billionaire just made a VERY strange confession about the future of his electric car empire. The secret he reveals could also mint fortunes for smart, fast-moving investors. This has nothing to do with buying shares of Tesla.
Major breakthroughs in cloud computing, predictive analysis, AI, virtual assistants, robotics and IoT have set the stage for solid growth in the space. Read More »
The long-term outlook for copper remains positive as demand is anticipated to improve on investments in electric vehicles, renewable energy, and infrastructure. Read More »
A small number of "under the radar" tech companies appear poised for exceptional growth. These innovators are at the forefront of emerging trends that are changing the world. They could very well be THE big name tech stocks of tomorrow.
Zacks is targeting exceptional gains from these stocks over the long term and you're invited to access these exclusive recommendations. Special opportunity ends midnight Sunday, April 11.
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »
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