Stocks Up On Friday, Down For The Week, But Look Towards The Reopening Economy

Plus 5 New Strong Buys for Today [Kevin Matras] Profit from the Pros By Kevin Matras Executive Vice President [Zacks Investment Research] Stocks Up On Friday, Down For The Week, But Look Towards The Reopening Economy Image: Bigstock Stocks closed up again on Friday in yet another upside turnaround. While they still closed lower for the week, optimism over the economy reopening helped lift stocks by week's end, and partially offset some of the rough economic reports. One such report was Friday's Retail Sales report which showed a record -16.4% m/m decline. But that report, like the dismal Employment Situation report the week before, is a snapshot of the past. And it reflects a time and conditions that we are rapidly moving away from. The markets are forward looking. And since the worst of the outbreak is behind us, the market is looking towards the recovery. At the end of last week, 43 states will have eased lockdown restrictions and opened up their economies in some shape or form. That includes portions of hard hit NY. And more are on the way. There are plenty of questions and concerns the reopening will create. We're already seeing some of that now with worries over new hot spots or flare-ups; what kind of business will some of these reopened companies be able to do given social distancing requirements; and how many people will venture out to visit these places knowing there's still a risk of infection? But these are totally different scenarios than calculating the carnage of an economy at a standstill. Instead, the economy is finally beginning to move again. Slowly. But moving nonetheless. And stocks have been making their own recovery as the declines in March were pricing in a catastrophic health crisis and prolonged economic crisis. Gladly, the predictions for both have been grossly overestimated. The worst of the outbreak is behind us. The economy has begun its recovery sooner than expected. And the market has been positively responding to it all as it should be. And as more and more of our businesses reopen, and more and more of the unemployed go back to work, stocks should continue to climb. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Collapse of 2020: What's coming next is even worse...]( The destructive impact of the coronavirus has all but frozen commercial activity across the nation. Even as the pandemic recedes, we could see wave after wave of bankruptcies. And that's just the tip of the iceberg... Unless you prepare now, everything you've worked for all your life could be lost forever. [Here's how to protect yourself and prosper]( Most Popular Articles from Zacks.com Image: Bigstock [5 Business Services Stocks That Popped Despite Coronavirus]( A closer look into the sector reveals a handful of stocks that have skyrocketed in the past three months. 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