Stocks Near All-Time Highs After Infrastructure Bill Signed, And Start Of Fed Taper

Plus 5 New Strong Buys for Today Stocks Near All-Time Highs After Infrastructure Bill Signed, And Start Of Fed Taper [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Near All-Time Highs After Infrastructure Bill Signed, And Start Of Fed Taper [Stocks Near All-Time Highs After Infrastructure Bill Signed, And Start Of Fed Taper]Image: Bigstock Stocks closed marginally lower yesterday as the infrastructure bill was finally signed into law, and the Fed began their long-awaited bond taper. The additional stimulus dollars from the infrastructure bill will add to the robust economic growth the country is already seeing. Although, some worry that could exacerbate already hotter than expected inflationary pressures (the CPI last week showed inflation jumping to a 31-year high). But the Fed began winding down their asset purchases of Treasuries and Mortgage Backed Securities yesterday to the tune of -$15 billion less per month. Instead of buying $120 billion per month, that will shrink to $105 billion this month. And next month they will cut that figure down by another -$15B for a total of $90B. At that pace they could fully unwind their asset purchases by the end of June. They will likely reassess their cadence along the way and pause at some point or accelerate at others. But the taper has begun. And investors have cheered the news ever since it was announced weeks ago, because it shows the Fed finally doing something about inflation. But rates still remain near zero and are expected to stay that way for the foreseeable future. In other news, the Empire State Manufacturing Index came in better than expected at 30.9 vs. last month's 19.8 and views for 22.7. Today we'll get another look at the economy with the Retail Sales report, Import and Export Prices, Industrial Production, Business Inventories, and the Housing Market Index. The market will keep its focus on the supply chain problems and worker shortages, especially with Q4 GDP expected to accelerate into the end of the year. It's been a great year for the markets so far with 7 weeks to go. And with November and December typically being strong months for stocks, 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 [Crash Warning: Everything just changed]( After 18 months of near vertical gains…the greatest bull run in history is starting to falter. And while some experts are urging investors to "buy the dip"…others are warning that the [worst crash in financial history]( is straight ahead. More importantly, what should you do with your money right now to get ready? Make no mistake, a major market shift is already underway... and [this is the exact day it's going to hit U.S. stocks](. 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