Stocks were up again yesterday with all of the major indexes in the green.
As Omicron fears fade, the bullish economy and bullish market have been the focus, and stocks have been on the rise accordingly.
MBA Mortgage Applications rose 2.0% (-5.0% for purchases and +9.0% for refi's).
And the JOLTS report (Job Openings and Labor Turnover Survey), showed 11.0333 million available jobs. That's above last month's 10.602M and estimates for 10.4000M. While the current labor shortage is real, it also highlights the underlying strength of businesses as evidenced by their demand for labor, and suggests a growing labor market for the foreseeable future.
Today we'll get another look at the jobs market with Weekly Jobless Claims, which hit a pandemic low just the other week.
Stocks have surged this week, putting all of the major indexes within striking distance of their all-time highs.
And with December typically being a strong month for stocks, it won't take much to send them even higher.
So make sure you're taking full advantage of it. Because it looks like there's a lot more upside to go.
BTW, if you're looking for new stock picking ideas, be sure to read our latest commentary.
Few things are better than picking up undervalued gems right before they explode higher. It's even more exciting when they're cheap in price too.
I know some people get spooked when they see a low-priced stock. Just like some people get spooked when they see a high stock price. But the price of a stock tells you nothing about its valuation.
Nonetheless, there's no denying the attraction of lower-priced stocks. Especially when you get in at just the right time and watch it soar.
I love finding low-priced picks just as much as the next person. And if you like finding them too, make sure you read our latest commentary...
3 Keys to Undervalued Stocks with Big Upside Potential
Best,
