S&P, Dow, And Nasdaq All Set New Records

Plus New Zacks Strong Buys for Friday, July 5 Profit from the Pros S&P, Dow, And Nasdaq All Set New Records Stocks soared again with the S&P making another new all-time high, the Dow making a new all-time high of their own, and the Nasdaq making a new all-time high close. Another day in the market, another day in the record books. Stocks look fantastic. And we seem to be in a sweet spot right now. Traders continue to cheer our strong economy -- literally the envy of the world right now. The jobs market has never been better. And optimism continues to grow that a lasting trade deal between the U.S. and China will soon be coming to fruition. But if something were to go wrong, whether it be a slowdown in the economy, a rough couple of economic reports, or a snag in trade, the Fed has insisted they will be there to backstop the economy. In fact, Fed Chairman, Jerome Powell, just last month, said they would cut rates to "sustain the expansion" if needed. When good news is good for the market, and even bad news can be good for the market, it's easy to see how good the market has it right now. And quite frankly, it looks like it's only going to get better. This morning, we'll get the always important Employment Situation report. The consensus is calling for 165,000 new jobs to have been created last month (149K in the private sector, 16K in the public), with the unemployment rate remaining at 3.6%, and average hourly wages ticking up from 0.2% to 0.3% m/m, and 3.1% to 3.2% y/y. A strong jobs report should set the market up for more gains to come. But a weaker than expected jobs report should likely do the same as traders will expect a rate cut to come sooner rather than later. Either way, there's no denying the historic economy and historic market we have. This is history in the making. So make sure you're taking full advantage of it. 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