Stocks Basing Near Highs Of The Year, Jobs And Trade Could Provide Next Upside Catalyst

Profit from the Pros Stocks Basing Near Highs Of The Year, Jobs And Trade Could Provide Next Upside Catalyst Stocks closed a bit lower yesterday as the markets took a breather after a spectacular start to the year. With the major indexes stringing together anywhere from an 8 to 10-week winning streak, it's well deserved. The market is still optimistic about a U.S.-China trade deal. But as I said yesterday, we're soon going to need to hear some concrete details on what's been done or what's to come to keep this trade-deal rally going. But once we get a date for when President Trump and President Xi are to meet for what will presumably be a signing ceremony, the markets will likely celebrate, or at least breathe a sigh of relief. Later this week on Friday, we'll get the always important Employment Situation. The jobs numbers are expected to show the historic employment gains continuing. But before that we'll get MBA Mortgage Applications and International Trade data this morning; and Jobless Claims and Consumer Credit tomorrow. For now, stocks continue to trade near their highs of the year. But don't be surprised if the breakneck pace continues sooner rather than later. If there's a pullback, I would use that as a buying opportunity. But be prepared if the market simply picks up where it left off and continues to surge higher. I've read countless reports about how this recent rally has left so many investors behind after getting spooked out of the market late last year. If you caught it, congratulations. If you didn't, don't despair because it looks like there's a lot more upside to go. Record rallies often coincide with record events. And the record economy, driven by record corporate tax cuts, and record deregulation, which has led to record corporate profits, record employment, and record consumer sentiment, is likely to lead to more new records for the stock market. So make sure you're taking full advantage of it. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [The Top Three 5G Stocks to Buy Right Now]( FREE Report: This new tech will be more impactful than the steam engine, electricity and the internet. [Click here to get the names of 3 stocks that are URGENT buys.]( Most Popular Articles from Zacks.com [Counter Market Volatility With These 5 Low-Beta Stocks]( This strategy shows low-risk securities can prove rewarding when a few other parameters are considered. 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