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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 On Pace For 3rd Up Week In A Row

Stocks finished up yesterday with the S&P making another new all-time high in the process.

With forecasts for big growth ahead, even a "Goldilocks" economy, to use Jamie Dimon's word, stocks continue to push higher.

What else would you call big growth, moderate inflation, and low interest rates? Sounds like an ideal scenario to me.

And not only are the forecasts bullish for this quarter and this year, but it looks like we could be on the cusp of a multiyear boom.

Although, not every economic report is going to look perfect all the time. Yesterday's Weekly Jobless Claims report missed expectations with a 16,000 increase in new claims to 744K vs. last month's 728K and views for 680K.

But let's also not forget what a blowout jobs report we got last week when it was shown that the US created 916,000 new jobs last month vs. the 625,000 that was expected.

And that's what Fed Chairman, Jerome Powell, wants to see more of. "We want to see a string of months like that so we can really begin to show progress toward our goals."

Today we'll get another look at the economy with the PPI-Final Demand report, and the Wholesale Inventories (Preliminary) report.

The three major indexes (Dow, S&P, and Nasdaq) are all on pace to close up for the week, which would make it the third up week in a row.

The economy looks excellent, and so does the market.

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

Best,

Kevin Matras

Executive Vice President, Zacks Investment Research

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