Stocks Closed Modestly Lower, But Remain Near All-Time Highs

Plus 5 New Strong Buys for Today Stocks Closed Modestly Lower, But Remain Near All-Time Highs [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Closed Modestly Lower, But Remain Near All-Time Highs [Stocks Closed Modestly Lower, But Remain Near All-Time Highs]Image: Bigstock Stocks finished modestly lower yesterday with the S&P ending their 8-day winning streak. (For the record, the Nasdaq had a 10-day winning streak, but that ended on Monday.) But stocks remain near their all-time highs. Earnings season is winding down with another 1,073 companies on deck for the rest of this week. That drops to 598 companies next week. And then 174 companies the week after that. But it's been a stellar earnings season. And stocks have soared in response. In other news, the NFIB Small Business Optimism Index slipped a bit to 98.2 from last month's 99.1 and views for 98.5. The Redbook report showed same store retail sales up 15.6% y/y, just a shade under last week's pace of 15.7%. And the PPI-Final Demand report showed producer prices in line with expectations: up 0.6% m/m, and 8.6% y/y. Ex-food & energy, it was up 0.4% m/m, and 6.8% y/y. These numbers remain elevated, but again, were within expectations. Today we'll get MBA Mortgage Applications, the Consumer Price Index, Atlanta Fed Business Inflation Expectations, and Wholesale Inventories. We'll also get Weekly Jobless Claims – those usually come out on Thursday, but we're getting them today since Thursday is Veteran's Day where Banks and Federal Offices are closed, although the stock market remains open. There's literally just 7½ weeks left in the year. And with November and December typically being strong months for stocks, I'm expecting a strong finish. Especially with analysts expecting Q4 GDP growth to accelerate into the end of the year. What a year it's been. And it looks like there's a lot more upside to go. 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 [Why Are Thousands of Brand-New Ford Trucks Parked Here?]( [Click Here to Find Out.]( Most Popular Articles from Zacks.com [4 Factors Likely to Drive Year-End Wall Street Rally: 5 Picks]( Wall Street is firing on all cylinders, exhibiting an impressive recovery after September’s turmoil. [Read More »]( [7 Stocks With Triple-Digit Gains Powering S&P 500 ETF]( The S&P 500 logged in eight consecutive gains, representing its longest winning streak since 2017. [Read More »]( [3 Stocks to Play the Canadian E&P Industry Upcycle]( The industry has rocketed 136.2% over the last year period compared with the broader sector's increase of 60.1%. [Read More »]( [5 Must-See Earnings Charts This Week]( What's going on in the economy? 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