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Kevin Matras   
Profit from the Pros
By Kevin Matras
Executive Vice President
Zacks Investment Research

Stocks Up Again, Nasdaq Sets New Record Close

Stocks closed higher again yesterday with the Dow, S&P and Nasdaq all finishing in the green, while the Nasdaq put in a new all-time high close! The only laggard was the small-cap Russell 2000 which finished in the red.

A strong growth outlook and strong earnings season continues to underpin stocks.

But yesterday morning started off with a surprise increase in Weekly Jobless Claims which rose 51,000 to 419K vs. views for a decrease to 350K. Although, the smoother 4-week moving average was mostly in line with expectations at 385,250.

Existing Home Sales were up, coming in at 5.860 million units (annualized) vs. last month's report of 5.780M.

And the Kansas City Fed Manufacturing Index came in at 30 vs. last month's 27.

We also saw plenty of big beats on the earnings front as well.

Earnings season is off to a great start. But it really kicks into gear next week with 1,174 stocks set to report. And even more the week after that with another 1,858 companies.

It won't take much for the major indexes to finish up for the week.

With a little extra push, we could even see new highs.


Kevin Matras

Executive Vice President, Zacks Investment Research


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