Stocks Near All-Time Highs As Earnings Season Kicks Into Gear

Plus 5 New Strong Buys for Today Stocks Near All-Time Highs As Earnings Season Kicks Into Gear [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Near All-Time Highs As Earnings Season Kicks Into Gear [Stocks Near All-Time Highs As Earnings Season Kicks Into Gear]Image: Bigstock Stocks soared on Friday, although they just missed out on closing higher for the week, but not by much. (The small-cap Russell 2000, however, did close up for the week.) Last week was filled with solid economic reports, and stellar earnings reports. Underscoring the strength in the economy was Friday's New Home Sales report which rose by 20.7% to come in at 1,021 units (annualized) vs. last month's upwardly revised 846K and the consensus for 887K. The PMI Composite Flash report also came in better than expected at 62.2 vs. last month's upwardly revised 59.7 and views for 59.5. The Manufacturing Index rose 2.5% to 60.6, while the Services Index rose 4.5% to 63.1. As for earnings season, it's always an exciting time since stocks typically go up during earnings season. And this earnings season is off to a fantastic start. We'll get another 1,022 companies reporting earnings this week. And another 1,719 next week. There has been some concern over the proposed tax on corporations to pay for the $2.25 trillion infrastructure package that's on the table, as well as the proposed tax on individuals, which includes capital gains taxes, to pay for the soon to be announced $1 trillion 'Families Plan' package that will tackle domestic issues. The market shrugged off the capital gains tax that was floated late last week as it was geared towards those with incomes of more than $1 million. While plenty of investors may not like it, it's not enough for them to shun the market. We should get more details about the infrastructure package, the Families Plan, and the taxes to pay for it all, before the scheduled State of the Union address on April 28th. In the meantime, the economy and the market look great. And we could very well be at the beginning of a multiyear boom! So make sure you're taking full advantage of it. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [[URGENT] Google just poured $4 billion into THIS...]( It's NOT cannabis. It's NOT bitcoin. It's NOT 5G. But it could be bigger than all of those. This new tech is fresh out of a secretive lab in Boston, and early investors are funneling as much money as they can into it. You could be looking down the barrel of 5,000% profits or MORE. [Act Now.]( Most Popular Articles from Zacks.com [Read this article]( Image: Bigstock [5 Must-Buy Corporate Giants Ahead of Q1 Earnings Next Week]( Each of these stocks carries either a Zacks Rank #1 or 2 and has a positive Earnings ESP. 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