Stocks Finished At Session Highs On Wednesday, Markets Close Early Today

Plus 5 New Strong Buys for Today Stocks Finished At Session Highs On Wednesday, Markets Close Early Today [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Finished At Session Highs On Wednesday, Markets Close Early Today [Stocks Finished At Session Highs On Wednesday, Markets Close Early Today]Image: Bigstock Stocks closed mostly higher on Wednesday with only the Dow missing the mark by just -0.03%. But they all closed at or near their session highs as they rallied into the close. Strong economic growth continues to fuel stocks. That was underscored, once again, by Wednesday's lower than expected Weekly Jobless Claims which saw new claims fall by -71,000 to 199K, well below the consensus for 264K, and setting a new pandemic low in the process. MBA Mortgage Applications were up 1.8% on a w/w basis, with purchases up 5.0%, and refi's up 0.4%. Durable Goods Orders fell -0.5% m/m vs. the consensus for 0.3%. But excluding the volatile transportation component, which includes vehicle sales (which have been suppressed due to the chip shortage), it was up 0.5%, in line with expectations. And core capital goods were up 0.6%, also in line with expectations. (And for good measure, the previous month was revised up from 0.8% to a gain of 1.3%.) The second estimate for Q3 GDP came in at 2.1%, as expected. And Consumer Sentiment rose to 67.4 from last month's 66.8 and the consensus for 66.9. But inflation is the wall of worry that the market has had to climb. That was evidenced by the Personal Income and Outlays report which showed the PCE Price Index up 0.6% m/m and 5.0% y/y. While that was in line with expectations, it was still the hottest reading in 30 years. The core PCE Price Index was slightly less, rising 0.4% m/m and 4.1% y/y. But the resilience of the market has been on full display all year. And with Q4 GDP expected to accelerate into the end of the year, not to mention another robust showing for 2022, it looks like there's a lot more upside to go for both the economy and the market. So make sure you're taking full advantage of it. That means getting into the right stocks and staying out of the wrong ones. BTW, if you're looking for additional ways to find stocks with big upside potential, consider looking at what the insiders are doing. Insiders at publicly traded companies are required by law to disclose their purchases. And do so within 48 hours of their trade. When top executives at companies are buying more shares, or when large numbers of executives are making new purchases, that can send a powerful signal that something good is happening to that company, and could soon be happening to that stock. And that can lead to big gains. To learn more about this type of insider trading and how you can benefit from it, please check out our latest commentary... [The #1 Insider Signal Every Trader Should Know]( Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Insider Trade Alert: Get In Now]( When in-the-know officers dip into their own pockets to buy shares of their own company, there's only one reason: They expect the stock price to go up. Zacks is now targeting insider moves that include a massive "Cluster Buy" at an under-the-radar, under $10 financial small-cap. The CEO, CFO, and 8 Directors just paid more than $1.8 million to take advantage of what must be an exceptional opportunity. The stock had pulled back. Earnings estimates are soaring. It's time to get in on this action. Our recommended insider trades are normally closed to public view – but you can still see them until midnight Sunday, November 28. 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