Stocks Took A Breather Yesterday, But On Pace For Impressive Week Of Gains

Plus 5 New Strong Buys for Today Stocks Took A Breather Yesterday, But On Pace For Impressive Week Of Gains [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Took A Breather Yesterday, But On Pace For Impressive Week Of Gains [Stocks Took A Breather Yesterday, But On Pace For Impressive Week Of Gains]Image: Bigstock Stocks took a breather yesterday after a heady three days of gains. With one more day left, stocks are on pace for a solid weekly performance. Yesterday's Weekly Jobless Claims came in better than expected, falling by -43,000 new claims to 184,000 vs. last month's 227K and views for 223K. Not only was this the lowest level since the pandemic began, but it was the lowest level in 52 years! Granted, the difficulties in adjusting for seasonal fluctuations at this time of year probably helped, as the smoother 4-week moving average came in at 218.75K. Nonetheless, there's no denying the historic tightening of the labor market. And it only looks to get tighter and tighter as the number of available jobs is larger than the number of unemployed people to fill them. Today we'll get another look at the economy with the Consumer Price Index (a report that will be closely watched for further insight into the current state of inflation), and the Consumer Sentiment report (another report that will be closely watched given that 70% of our GDP is comprised of consumer spending – an important metric since a positive consumer is typically a spending consumer). With three more weeks to go in 2021, the main headwinds will be Omicron fears and inflation. And the main tailwinds will be an accelerating economy and bullish seasonal tendencies for the market. So far, it's been a spectacular year. And it looks like there's still a lot more upside to go. So make sure you're taking full advantage of it. Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [5 Stocks Under $10 to Buy Today]( Zacks is now revealing its most compelling picks priced under $10 per share (but perhaps not for long). These high-quality companies have prospects for gains of up to 2X and more. Recently, our recommendations have closed returns of +108.6%, +110.4%, +393.8% and even +995.2%. These stocks offer the best of both worlds: immediate growth potential AND the strong likelihood of long-term profitability. Special opportunity ends at midnight Sunday, December 12. [See Stocks Now »]( Most Popular Articles from Zacks.com [Soaring Demand Driving Microchip Sales: 4 Solid Stocks to Buy]( Although chipmakers have been ramping up production, the supply crunch is expected to last for months. 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