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](
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