Stocks Up As Employment Data Awaits  Image: Bigstock Stocks closed modestly higher yesterday. It was a relatively quiet day in the market, even though there are many issues traders are considering, including the latest cyberattack on one of the country's largest meat producers, JBS, and growing labor shortages in various states. The market is also watching how the infrastructure talks go. And the tax hike talks. Not to mention the proposed $6 trillion budget. In the meantime, the economy continues to impress. We'll get another look at the economy with today's Weekly Jobless Claims, the PMI Composite Index, the ISM Services Index, and the ADP Employment Report. The report everybody is really waiting for, however, is Friday's Employment Situation Report, after last month's sharp miss of 266,000 new jobs vs. the consensus for 998,000 (even though many attributed that to a seasonal adjustment since the unadjusted numbers showed more than 1 million new jobs gained). Moreover, some believed the numbers were being held down because the unemployment benefits for some, paid more than actually going back to work. But since then, several states have made adjustments to that program to incentivize people to get back to work. With more job openings than there are people to fill them, we should be seeing robust job gains. So all eyes will be on Friday's report. Quite frankly, with forecasts for full-year GDP to come in at the fastest pace in 37 years, we should soon see a jobs boom. As the great reopening continues, both the economy and stocks are poised to soar. So make sure you're taking full advantage of it. On a separate note, if you're looking for new stock picking ideas in an industry poised for historic growth, be sure to read our latest article on the booming Marijuana Industry. These stocks are definitely more speculative in nature. But the number of companies currently offering, or are slated to offer, cannabis-related products is growing. This is no longer just about investing in pot growers. It's also about consumer products, drinks, food, medicine, and more. And with marijuana sales legal in Canada, 33 states, and D.C., it's only going to get bigger. To learn more about this explosive industry, be sure to read our latest commentary... Marijuana Stocks on the Move Best,  Kevin Matras
Executive Vice President, Zacks Investment Research | 
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