New All-Time Highs For The Dow, S&P, Nasdaq, And Russell 2000

Plus 5 New Strong Buys for Today New All-Time Highs For The Dow, S&P, Nasdaq, And Russell 2000 [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President New All-Time Highs For The Dow, S&P, Nasdaq, And Russell 2000 [New All-Time Highs For The Dow, S&P, Nasdaq, And Russell 2000]Image: Bigstock Stocks finished higher again yesterday with the Dow, S&P, Nasdaq, and the small-cap Russell 2000 all hitting new record highs. Same story as before; a robust earnings season has propelled stocks to new heights. Stocks typically go up during earnings season. And with another 1,393 companies on deck for the rest of this week, another 1,494 next week, and another 555 the week after that, there's still a lot more earnings season to go. In other news, the Redbook report showed same store retail sales up 15.7% y/y, up from last month's snapshot of 15.6%. Today we'll get MBA Mortgage Applications, the PMI Composite report, Factory Orders, the ISM Services Index, and the ADP Employment Report. We'll also get the FOMC Announcement and the Fed Chair Press Conference. Nothing is expected to happen with rates. But traders are expecting the Fed to finally begin their long-awaited, and widely anticipated, bond taper (buying $10 billion a month less in Treasuries vs. the $80B a month they buy now, and $5 billion a month less in mortgage-backed securities vs. the $40B a month they buy now). Could be more, could be less, we'll have to see. The only real surprise would be if they chose to not begin their taper yet. They were pretty clear it was coming soon, and Fed watchers interpreted that to mean at the conclusion of their November FOMC meeting, which is today. But they never came out and said it per se. So while it's widely assumed, it's not a done deal until they announce it. And that'll come at 2:00 PM EST, with the Fed Chair Press Conference at 2:30. In the meantime, stocks are trading at record highs. Earnings season, by the time it's all said and done, is likely to set another quarterly earnings record. If so, that will be the third quarterly record in a row. The economy continues to reopen. Virus cases continue to decline. And there's still the prospect for another trillion dollars (or more) to be injected into the economy if the infrastructure bill passes (and possibly the reconciliation bill as well). But even without that, the economy is poised to soar as pent-up economic demand here in the U.S., and around the world, is unleashed. And that suggests there's a lot more upside to go for the market as well. 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 [3 Stocks to Own for the $12 Trillion 5G Boom]( After years of development, 5G infrastructure is finally getting rolled out across the United States. This could be the last year for investors to get in early on stocks powering this $12 trillion revolution. Eric Fry just named 3 stocks for investors to own for the coming 5G boom in a new free report. [Click here to claim your free copy.]( Most Popular Articles from Zacks.com [5 Stocks to Buy as Holiday Season Travel Gathers Steam]( We have picked five stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) that are poised to benefit in the near term. [Read More »]( [Top 5 Business Services Stocks Poised to Beat on Q3 Earnings]( Business services had a good third-quarter buoyed by the faster-than-expected reopening of the U.S. economy. 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