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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 Soar, S&P And Nasdaq Post Their Best Day Since March

Stocks soared yesterday as Omicron concerns fade. The S&P and Nasdaq put in their best day since March, after the Dow did that the day before.

The two-week pullback could very well have run its course as the major indexes are now back to within striking distance of their previous closing highs. The Dow is only 1.96% away, the Nasdaq is only 1.49% away, and the S&P is just 0.38% away from their all-time high close.

That's not to say that Omicron isn't a concern because it is. But the worst-case scenario that sank stocks a couple of weeks ago looks to be off the table as the variant appears to produce mild symptoms, and the vaccines and therapeutics are believed to offer protection.

In other news, the Redbook report showed same store retail sales up 15.3% y/y. That's down from last week's snapshot of 16.9%. But it's still a solid increase.

Today we'll get MBA Mortgage Applications, and the Job Openings and Labor Turnover Survey report (or JOLTS for short).

After a rough start to the month, December has snapped back in a hurry with all of the major indexes now in the green.

And I'm not surprised. With Q4 GDP expected to accelerate into the end of the year, full-year GDP expected to come in at the fastest pace in 37 years, and with December typically being a strong month for stocks, it looks like we could see a strong finish to a spectacular year.

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

See you tomorrow,

Kevin Matras

Executive Vice President, Zacks Investment Research


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Low-Priced Stocks with Sky-High Potential

Zacks is now revealing its top stock recommendations priced under $10 per share. Each is a high-quality company with prospects for gains of 2X and even more. Recently, our recommendations have closed returns of +108.6%, +110.4%, +393.8% and even +995.2%.

Strong earnings growth, plus other Zacks' indicators, mark our rare Under $10 stocks for sustained growth. Look into them today, and then ride the potential profits high and long.

See Top Stocks Under $10 Now >>

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Bull of the Day: Lowe's (LOW)

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