S&P Makes New All-Time High Close

Plus 5 New Strong Buys for Today S&P Makes New All-Time High Close [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President S&P Makes New All-Time High Close [S&P Makes New All-Time High Close]Image: Bigstock Stocks closed mostly higher yesterday with the S&P now up for the 6th day in a row, and notching a new all-time high close in the process. The Dow was up too, making a new all-time intraday high, before finishing just under its record close from August. Strong earnings continue to rally stocks. As you know, stocks typically go up during earnings season. And with earnings season having just begun, we've got another handful of weeks to go. In other news, MBA Mortgage Applications slipped -6.3% w/w, with the purchase index down -5.0%, and refi's down -7.0%. The Fed's Beige Book report showed an economy that continues to rebound, albeit at a bit of a slower pace. The report said that "outlooks for near-term economic activity remained positive, overall, but some districts noted increased uncertainty and more cautious optimism than in previous months." This was attributed to supply-chain disruptions, worker shortages, and earlier fears around the delta variant. The report also went on to highlight that the continued rise in consumer spending was a bright spot. Same for the rise in manufacturing activity. Fortunately, with efforts underway to ease supply disruptions, and with the labor force expected to grow, this should increase economic output while simultaneously helping to reduce inflation. And with falling covid cases, the economy can accelerate its return back to something closer to normal. After the close, the FDA authorized Moderna and Johnson & Johnson to offer booster vaccine shots. They also said that people can get their booster shots from different vaccine manufacturers than their original shot. Between falling cases, more vaccinations, and several covid therapeutics in the pipe to treat Covid if you get it (Merck already has a drug, but is waiting on FDA's approval, or at least emergency use authorization), the pandemic should become less and less of an issue as we move forward. In the meantime, with stocks trading at or near their all-time highs, it won't take much to send them even higher. And with full-year GDP growth expected to come in at the fastest pace in 37 years, not to mention the prospect for even more stimulus money to be injected into the economy, it looks like there's a lot more upside to go. So now is the time to start preparing for it. And to do so, be sure to read our latest commentary... [Getting Ready For The Next Leg Up]( Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [GM and Toyota Shut Down]( Once again, the word "Crisis" is being thrown around. But this is unlike anything we've seen before... ➔ Major automakers - from GM to Toyota are shutting their factories. ➔ Analysts are warning that Christmas, as we know it, may not happen this year. ➔ And massive food distributor, Sysco, says it's going to have trouble stocking grocery store shelves. Not because of a recession or virus...not because of a new lockdown or war... But the very opposite. A new threat which could soon cause empty shelves as far as the eye can see. Please...[take the time to view this special presentation now](. It explains all the details. [Click here to see how you can prepare.]( Most Popular Articles from Zacks.com [Read this article]( Image: Shutterstock [4 Top Consumer Loan Stocks to Buy From a Booming Industry]( Easing lending standards, which has increased eligible clients, and improving asset quality are likely to continue providing much-needed support. [Read More »]( [Read this article]( Image: Shutterstock [3 Broadcast Radio & TV Stocks to Buy From a Prospering Industry]( These stocks are benefiting from higher content consumption and increased digital viewing despite softness in ad demand and intensifying competition. [Read More »]( [Read this article]( Image: Bigstock [5 Must-Buy Mid-Cap Stocks Ahead of Q3 Earnings This Month]( Each of our picks carries a Zacks Rank #1 (Strong Buy) and a positive Earnings ESP. [Read More »]( [Read this article]( [Pinterest Gets the Call from PayPal: Imagine a New E-Commerce Powerhouse]( PYPL is hungry to create an ecosystem that stays hip to the ways of youth and an NFT push is probably next. [Read More »]( [Read this article]( Image: Bigstock [Tips on Where to Invest as Rates Rise]( Think you know what might go on with the Fed and rates next year? Think again. 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[Get your FREE book now »]( [Read this article]( Image: Bigstock [Bull of the Day: Urban Outfitters (URBN)]( Growing demand and two new, successful brands are pushing this retailer higher. [Read More »]( [Read this article]( [New Zacks Strong Buys for October 21st]( 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. 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