Stocks Soar Once Again, Poised For A Strong Week Of Gains

Plus 5 New Strong Buys for Today Stocks Soar Once Again, Poised For A Strong Week Of Gains [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Soar Once Again, Poised For A Strong Week Of Gains [Stocks Soar Once Again, Poised For A Strong Week Of Gains]Image: Bigstock Stocks soared again yesterday, adding to their gains. In spite of rising Omicron case counts, its mild symptoms and even lower mortality rate have tempered the market's once dour reaction. When the Omicron variant was first detected, everyone braced for the worst and the market sold off. But now that we see the worst-case scenario will not be unfolding, the market has bounced back from that panicked selling, and is once again trading near their all-time highs. Moreover, with reports that the Omicron variant in South Africa, where it was first detected, is now 'over the curve,' with case counts on the decline, that could very well foreshadow good news for the U.S. and the rest of the world. And with that, the market has turned its attention back to the strengthening economy and earnings. Yesterday, the final estimate for Q3 GDP came in above expectations at 2.3%, up from the previous estimate of 2.1%, and views for the same. But we all know that the economy was/is expected to accelerate into the end of the year. And so far, that's what we've seen as the Federal Reserve Bank of Atlanta is estimating Q4 GDP at 7.2%. In other news, the Corporate Profits report for Q3 showed after-tax profits increased to 31.0% y/y vs. the previous report of 27.6%. And Consumer Confidence jumped to 115.8 from last month's 111.9 and the consensus for 110.7. Today we'll get reports on Durable Goods Orders, Weekly Jobless Claims, Personal Income and Outlays, New Home Sales, and Consumer Sentiment. Remember, today is the last trading day of the week as the markets will be closed tomorrow in observance of Christmas. But trading resumes as normal on Monday. And we have a full 5-day trading week next week to close out 2021. In the meantime, the markets look poised to finish the year off strong. And with December typically being a strong month for stocks, it looks like there's more upside to go. So make sure you're taking full advantage of it. On that note, if you're looking for new stock picking ideas for both this year and next, be sure to read our latest article on the booming Marijuana Industry. This industry is poised for historic growth. And the number of companies currently offering, or slated to offer, cannabis-related products is growing. This is no longer just about investing in pot growers. It's also about consumer products, drinks, food, medicine, and more. That's where the big money is at. And with marijuana sales legal in Canada, 33 states, and D.C., it's only going to get bigger. To learn more about this explosive industry, be sure to read our latest commentary... [Big Marijuana Stock Profits in Surprising Places]( Best, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [Will This Fast-Emerging Technology Create the World's First Trillionaire?]( Jeff Bezos shocked Amazon investors to the core with this bold prediction: "I predict one day, Amazon will fail." In a recent interview, Bezos explained that he believes "Amazon will be disrupted one day" and eventually "will go bankrupt." What might be even more alarming is that Bezos has been dumping roughly $1 billion worth of Amazon stock every year… But Bezos isn’t just cashing out, he's reinvesting his money into a fast-emerging technology that he believes will "improve every business." [Find Out Which Company We're Talking About](. Most Popular Articles from Zacks.com [Hybrid Working Gaining Momentum: Focus on These 4 Tech Stocks]( A flexible work environment is reducing office administrative and marketing expenses as companies are transforming their businesses digitally. [Read More »]( [Worried Over Big Tech Regulation? Bet on These 3 Smaller Stocks]( Investors looking for bigger returns should consider the following companies with strong fundamentals. [Read More »]( [3 Stocks to Watch as eSports Trend Gains Momentum]( While eSports is currently a small part of the huge video game industry, it is growing exponentially. [Read More »]( [3 Advertising Stocks Poised to Escape COVID-19-Led Industry Weakness]( The Zacks Advertising and Marketing Industry's prospects look good on healthy manufacturing and service activities. [Read More »]( [My Top Picks To Play A Weakening US Dollar Entering 2022]( Some unique investment opportunities are revealing themselves on the notion of a 2022 dollar depreciation. [Read More »]( Sponsor [Marijuana Stocks? There's Never Been a Better Time.]( Today we’re on the verge of bipartisan marijuana legislation at the Federal level. Once the bill is passed, many U.S. pot companies can then list on exchanges like NYSE and Nasdaq. The floodgates will open and money will flow in. 36 states plus D.C. have already legalized medicinal marijuana and 18 states plus D.C. made recreational use legal. There’s no stopping this trend, and now is the time to join the rush for profits. Global sales are predicted to skyrocket from $20.5 billion back in 2020 to an expected $90.4 billion by 2026. Zacks recently closed marijuana trades of +39.7%, +94.5%, even +147.0% in as little as 4-1/2 months. Plus, new stocks are being lined up that could greatly surpass these gains. [See Zacks' latest pot stocks now »]( [Bull of the Day: Beam Global (BEEM)]( Scotty is about to BEEM this stock up thanks to a massive short squeeze that is powered by revenue growth. [Read More »]( [New Zacks Strong Buys for December 23rd]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com. [Download our Zacks App for Apple iOS]( [Download our Zacks App for Android]( Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. 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