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Profit from the Pros By Kevin Matras Executive Vice President
S&P And Nasdaq Hit New All-Time Highs
Image: Bigstock
Stocks were mixed yesterday with the Dow and the small-cap Russell 2000 lower for the day. But the S&P and Nasdaq both made new all-time highs and closes!
Stocks continue to be energized by the improving economy.
As more and more of the country opens up, we are about to see unprecedented pent-up economic demand send the economy soaring.
Full-year GDP is expected to grow at the fastest pace in 37 years.
And with the infrastructure package likely on its way in the near offing, GDP could climb even higher.
What we're seeing right now is history in the making.
And historic times typically usher in historic price moves.
The market is not without its worries. The biggest one right now seems to be inflation.
But the Fed continues to believe that the uptick in inflation will be transitory, which means no premature raising of rates or tapering of bond purchases.
We will hear from the Fed later this week (Wednesday, 6/16), when they conclude their 2-day FOMC Meeting and give their announcement on interest rate policy. We'll also get more insight when Mr. Jerome Powell gives his Fed Chair Press Conference shortly thereafter.
In the meantime, traders continue to cheer the optimistic economic outlook.
And that suggests there's a lot more upside to go for the market as well.
So make sure you're taking full advantage of it.
See you tomorrow,
Kevin Matras
Executive Vice President, Zacks Investment Research
This year could be the biggest one yet for the unstoppable electric vehicle megatrend – but if you're looking to take advantage, the time to act is now. That's why Luke Lango has just released his picks for the 11 best EV stocks of 2021. Each one has been hand-selected for its potential to deliver life-changing profits as electric vehicles continue to disrupt the automotive industry.
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Our 5 best-performing strategies have blown away the S&P's impressive +103.9% gain from 2016 through 2020. Amazingly, they soared +381.1%, +424.1%, +429.0%, +477.8%, and even +580.0%.
Today you can access their live picks without cost or obligation.
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