Dow And S&P Make New All-Time Highs Image: Bigstock Stocks closed mostly higher yesterday with the Dow and S&P both hitting new all-time highs in the process. The markets were weaker in the morning and for a portion of the afternoon. But after hitting their worst levels early on, they spent the rest of the day making their way back and then some. A stellar Q2 earnings season has really lifted stocks. And even though it's winding down, the robust outlooks for Q3 and beyond suggest there's a lot more upside to go. Same goes for the economic reports. Although, while some reports have beaten expectations, like the recent employment report which showed 943,000 new jobs were created last month, some have slowed down a bit. But we continue to see strong economic activity from a rebounding economy eager to open back up. Then when adding in the trillions of dollars in already passed stimulus, and the trillions more likely coming down the pike, we're getting ready to see unprecedented pent-up economic demand meet an unprecedented amount of stimulus money. And that could usher in a multiyear boom. We'll get another look at the economy today with Retail Sales, Industrial Production, Business Inventories, and the Housing Market Index. In meantime, the markets continue to trade at or near their all-time highs. And as the economy continues to grow (full-year GDP is expected to come in at the fastest pace in 37 years), it looks like the market should follow suit. 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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