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Profit from the Pros By Kevin Matras Executive Vice President
Stocks Up, S&P Makes New All-Time High And Close
Image: Bigstock
All of the major indexes closed higher on Friday. The S&P, Nasdaq, and Russell 2000 closed higher for the week. (That's 3 weeks in a row for the S&P and Russell, and 4 weeks in a row for the Nasdaq.) And the S&P also made another new all-time high and close!
The market is being driven by the improving economy.
With full-year GDP expected to grow at the fastest pace in 37 years, and many expecting this to be the beginning of a multiyear boom, it's easy to see why stocks keep pushing higher.
As the economy opens up, we are about to see unprecedented pent-up economic demand meet an unprecedented amount of stimulus money.
This is history in the making. And historic times typically usher in historic price moves. And the market is wasting no time in taking advantage of it.
Of course, the market has its worries. It always does. The present worry is inflation. But the Fed continues to believe any uptick will be moderate and transitory. Time will tell.
In the meantime, the strong outlook for businesses, and the rising confidence of the consumer (the Consumer Sentiment report on Friday increased by 3.5 points to 86.4 vs. views for 84.0), continues to underpin stocks.
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
The average annual return of commercial real estate over 20 years is roughly 9.5%, nearly 1% greater than the S&P 500's average annual return of 8.6. The CRE Income Fund pays an annual 10% dividend yield and is a long-term strategy that returns over $25,000 for every $10,000 invested and compounded annually over the next ten years.
With passenger revenues unlikely to return to the pre-pandemic levels, we expect airlines to continue laying an emphasis on cargo revenues to bump up their top lines. Read More »
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The average annual return of commercial real estate over 20 years is roughly 9.5%, nearly 1% greater than the S&P 500's average annual return of 8.6. The CRE Income Fund pays an annual 10% dividend yield and is a long-term strategy that returns over $25,000 for every $10,000 invested and compounded annually
over the next ten years.
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »
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