S&P And Nasdaq Higher For The Week, Nasdaq Hits Another New All-Time High

Plus 5 New Strong Buys for Today S&P And Nasdaq Higher For The Week, Nasdaq Hits Another New All-Time High [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President S&P And Nasdaq Higher For The Week, Nasdaq Hits Another New All-Time High [S&P And Nasdaq Higher For The Week, Nasdaq Hits Another New All-Time High]Image: Bigstock Stocks closed mixed on Friday, but the Nasdaq hit another new all-time high. And both the S&P and Nasdaq closed higher for the week. News early Friday morning that Austria will re-enter a full Covid lockdown weighed on stocks from the open. With rising case counts, and hospitals stretched to capacity, they become the first Western European nation to reimpose such strict measures. And with their vaccinations rates being one of the lowest in Europe, they will mandate that the entire population get vaccinated by February 1, 2022. The worry is if that's what's happening in Europe (albeit one country), could that spread throughout Europe, and even the U.S.? But given the low vaccination rates of Austria compared to the higher vaccination rates in other European countries, and the relatively high vaccination rates of the U.S., those fears are likely overblown. But it was enough for some to pull profits and send stocks mostly lower. But the markets have been resilient with the major indexes trading at or near their all-time highs. And rightly so, with the economy continuing to improve, and Q4 GDP expected to accelerate into the end of the year. The House passed the $1.75 trillion reconciliation bill Friday morning. Unlike the bipartisan infrastructure bill, this passed along party lines. But it now heads to the Senate where it's expected to look much different before it leaves there. So the ultimate fate of that bill remains unknown, as do the proposed tax cuts that would be passed to pay for it. The markets will observe an abbreviated trading schedule this week with stocks closed on Thursday, for Thanksgiving. And Friday will close early at 1:00 PM ET. In the meantime, it's been a fantastic year for stocks. 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 [Today, See Zacks' Top Stocks for Free]( Starting now, you can get instant access to the latest picks from our hottest market-beating strategies. From 2016 through 2020 they gained +381.1%, +424.1%, +429.0%, +477.8%, and even +580.0%. Zacks will also give you a free Special Report, Top 10 Stock Screening Strategies with formulas you can use to find high-potential gainers anytime you please. 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