We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Profit from the Pros By Kevin Matras Executive Vice President
Stocks Up, S&P Makes New All-Time High And Close
Image: Bigstock
Stocks closed mostly higher yesterday with the S&P making a new all-time high and close. And the Dow and the Nasdaq are not that far behind.
Weekly Jobless Claims fell again, this time by -9,000 new claims at 376K. And the 4-week moving average declined as well, shedding -25,500 to come in at 402.5K.
But the one report that seemed to grab all the headlines was the CPI report which increased by 0.6% m/m vs. the consensus for 0.4%, while the y/y change was up 5.0% vs. views for 4.6%. (Less food and energy, the m/m change was up 0.7%, and the y/y change was 3.8%.)
While the headlines blared that inflation grew at the fastest pace in more than a decade, traders seemed unfazed by it.
And that makes sense. While the economic rebound continues to impress, nothing is growing at such a red-hot pace to force the hand of the Fed. As I mentioned yesterday, some inflation is good. And the Fed is still expecting it to be transitory. (And it would seem like the bond market does too as the 10-year yield fell to 1.4590 yesterday, a sizeable decline from their highs in March of 1.7510 when the inflation hysteria was at its loudest.)
After the close, we heard that a bipartisan group reached an agreement on an infrastructure package. Previous talks with others have broken down. If the White House gets behind this, it could unstick the stalled negotiations and move this forward, further supporting the economic recovery.
In the meantime, there's a lot to get excited about regarding the economy and the market.
And as the country continues to open up, both the economy and the market look poised to soar.
So make sure you're taking full advantage of it.
Best,
Kevin Matras
Executive Vice President, Zacks Investment Research
A handful of high-quality, low-priced stocks are poised to make big moves. Potential gains may reach 2X or more. But your chance to buy them this cheap could end very quickly. Get these stocks in your portfolio before they break out. Recently, our recommendations have closed returns of +108.6%, +110.4%, +117.8%, +142.9% and even +475.8%. Special opportunity ends Sunday, June 13.
Right now, investors with longer-term horizons should buy strong growth-focused stocks prepared to thrive for years to come in the digital age. Read More »
With the help of the Zacks Stock Screener, we zeroed in on five industry stocks with a favorable Zacks Rank that are poised for growth this year. Read More »
Catch breaking news on your stocks and funds at a glance, including timely recommendation changes ... Zacks Ranks ... Industry Ranks ... earnings announcements ... earnings estimate revisions ... and more. And now you can screen for new stocks to improve portfolio performance.
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »
Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com.
Visit Success Stories to hear how Zacks research, tools and portfolios help our members outperform the market.
Get all of our market insights and much more when you connect with us.
This free resource is being sent by Zacks.com. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through May 3, 2021. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed above.
Zacks Emails If you would prefer to not receive future profit-producing emails from Zacks.com the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please click here and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com.
Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606
Due to inactivity, you will be signed out in approximately:
