Stocks Poised For More Gains On Renewed Trade Optimism, And Year-End Rally

Plus New Zacks Strong Buys for Monday, November 25 [Kevin Matras] Profit from the Pros By Kevin Matras Executive Vice President [Zacks Investment Research] Stocks Poised For More Gains On Renewed Trade Optimism, And Year-End Rally Stocks closed higher on Friday, but down for the week, ending a multi-week winning streak for the Dow (4 weeks), S&P (6 weeks), and Nasdaq (7 weeks). But stocks remain near their all-time highs. And are poised to breakout even further. Renewed optimism over a U.S.-China trade deal continues to underpin the market. Last week we got reports that China was reluctant to commit to a specific amount of ag purchases, and that the U.S. was reluctant to remove all tariffs ahead of a formal agreement on a phase one trade deal. But spokespeople from both countries have praised the ongoing negotiations as "constructive" and that "progress is being made." This was underscored by President Xi on Friday when he said "we want to work for a phase one agreement on the basis of mutual respect and equality." And President Trump added that we were "very close" to a deal. The devil is always in the details. But it's clear that both countries want to make a deal. In other news, Friday's Consumer Sentiment report rose more than expected to 96.8, beating last month's 95.7 and expectations for the same. And it's easy to see why -- our economy is strong, unemployment is at a 50-year low, housing permits are at a 12-year high, and household income is at the highest level in 20 years. This is why stocks are in the midst of an historic bull market. And why it looks like there's a lot more upside to go. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Why Haven't You Looked at Zacks' Top Stocks?]( Our 5 best-performing strategies have blown away the S&P's +39.6% gain from 2017 through Q3 2019. 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