New All-Time High Close For The Nasdaq

Plus 5 New Strong Buys for Today [Kevin Matras] Profit from the Pros By Kevin Matras Executive Vice President [Zacks Investment Research] New All-Time High Close For The Nasdaq Image: Bigstock Stocks closed mostly higher yesterday with only the S&P slipping just -0.06%. But they all finished near their all-time highs, while the Nasdaq made a new all-time high close. Continued optimism over the upcoming COVID vaccines remains supportive for stocks. As do renewed hopes for another stimulus bill coming by year's end. We got more good news on the economy yesterday as Weekly Jobless Claims fell more than expected, declining by -75,000 to 712K vs. views for 780K. The PMI Composite Final report came in at 58.6 vs. last month's 56.9 and estimates for 57.9. And the ISM Services Index came in at 55.9 which was just under the consensus for 56.0. But it was yet another print above 50 which shows the services sector's continued expansion. But the report everybody's waiting for is this morning's Employment Situation Report which is expected to show that 500,000 new jobs were created last month (590K from the private sector and -90K from the public), with the unemployment rate dropping from 6.9% to 6.8%. We'll also get the Factory Orders report later in the morning. In the meantime, there's plenty of news supporting higher stock prices right now. And given the bullish outlook for the economy (full year GDP for 2021 is expected to grow at the fastest pace in 38 years), and the market (Goldman Sachs is projecting the S&P will hit 4,300 next year, which is another 17.27% from here), it looks like there's a lot more upside to go. So make sure you're taking full advantage of it. Best, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Time to Buy Pot Stocks!]( After waves and waves of marijuana legalization, this industry has held true right through the pandemic lockdowns. Now fresh from a clean sweep of 6 election referendums and with pent-up demand starting to unleash, it's expected to explode from global sales of $17.7 billion in 2019 to an expected $73.6 billion by 2027. Zacks launched a unique approach to marijuana-related stocks but quickly closed access to limit the number of investors who share them. Access has briefly re-opened but only until midnight Sunday, December 6. [See live buys now >>]( Most Popular Articles from Zacks.com Image: Shutterstock [6 Top-Ranked Internet Stocks to Snap Up Heading Into 2021]( Apart from strong fundamentals, each of these stocks has a favorable combination of a Growth Score of A or B, and a Zacks Rank #1 (Strong Buy) or 2 (Buy). [Read More »]( Image: Bigstock [5 Stocks to Buy at Deep Discount for a Stronger Portfolio]( A discounted stock price and a favorable Zacks Rank are the right combination to strengthen one's portfolio right now. [Read More »]( Image: Bigstock [How to Screen for Top Small Cap Value Stocks]( Small cap value stocks finally came alive in November 2020 with their best month of the year. Is more to come in 2021? [Read More »]( [Scottish Warlords of Investing: Baillie Gifford Sells TSLA, Buys TTD, Holds SHOP]( They didn't want to sell Tesla ever, but their profits were just too enormous. [Read More »]( Image: Bigstock [5 Hot ETFs of November to Continue Gaining Investor's Love]( We have highlighted five ETFs that enjoyed huge capital inflows last month and are expected to continue the trend. [Read More »]( Sponsor [Increase Investment Returns with Free Zacks' Portfolio Tracker]( Catch breaking news on your stocks and funds at a glance, including timely recommendation changes ... Zacks Ranks ... Industry Ranks ... earnings announcements ... earnings estimate revisions ... and more. And now you can screen for new stocks to improve portfolio performance. [Click for Free Tracker & Screener >>]( Image: Bigstock [Bull of the Day: Deere (DE)]( Deere is back for 2021. [Read More »]( [New Zacks Strong Buys for December 4th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com. [Download our Zacks App for Apple iOS]( [Download our Zacks App for Android]( Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. Get all of our market insights and much more when you connect with us. [Visit Zacks on Facebook]( [Follow Zacks on Twitter]( [See Zacks videos on YouTube]( [Join Zacks on LinkedIn]( [Read Zacks Commentary on StockTwits]( This free resource is being sent by [Zacks.com](. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. [www.zacks.com/disclaimer](. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through October 5, 2020. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit [( for information about the performance numbers displayed above. Zacks Emails If you would prefer to not receive future profit-producing emails from [Zacks.com]( the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please [click here]( and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com. Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606