Stocks Pull Back, But End Near All-Time Highs With 1 Day Left

Plus 5 New Strong Buys for Today Stocks Pull Back, But End Near All-Time Highs With 1 Day Left [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Pull Back, But End Near All-Time Highs With 1 Day Left [Stocks Pull Back, But End Near All-Time Highs With 1 Day Left]Image: Bigstock Stocks pulled back yesterday with the Dow, S&P and Nasdaq closing modestly lower. That also ended the Dow's winning streak at 6 days. The S&P and Nasdaq's streak was capped at 4 days earlier in the week. With just 1 more trading day left in 2021, the MTD tally now stands at 5.55% for the Dow, 4.64% for the S&P, and 1.31% for the Nasdaq. YTD, those returns come in at 18.9% for the Dow, 27.2% for the S&P, and 22.1% for the Nasdaq. In other news, Weekly Jobless Claims came in better than expected, falling by -8,000 to 198K vs. views for 205K. This was not only the lowest reading since the pandemic began, but it was the lowest reading in 52 years! The Chicago Purchasing Managers Index also came in better than expected at 63.1 vs. the consensus for 62.0, underscoring the manufacturing sector's continued expansion in the region. There's nothing on the docket report-wise today, other than the Baker Hughes Rig Count report. The equity markets are open for a full trading day. Although, volume is likely to be lighter. The bond markets, however, will close early at 2:00 PM ET. What a year it's been. 2021 had its challenges, with Covid at the top of that list for the second year in a row. From an economic standpoint; inflation, supply chain disruptions, and worker shortages topped the list. But in spite of all that, the economy has continued its impressive rebound. And the markets have performed nothing short of spectacular. If all goes well, today could make those gains even a little more spectacular. But either way, 2021 will truly be one for the record books. Not just for stocks, but in so many other ways as well. Happy New Year! See you in 2022, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [What's Elon Musk's Next Move?]( Elon Musk is a generational influencer. He jumped into folklore with the PayPal mafia. He has made serious waves in the corporate world with Tesla and bitcoin commentary. This free report provides investors insights into his next major initiatives and when you might be able to invest. [Get Your Free Copy of This Report Here]( Most Popular Articles from Zacks.com [4 Small-Cap Stocks That Are Ready to Explode in 2022]( The pandemic has been a boon to small-cap stocks as startups and small companies have put up a great show through innovation. [Read More »]( [3 Wireless Stocks Likely to Ride on $1.2T Infrastructure Bill]( The coronavirus-driven digital transformation and accelerated pace of 5G deployment should help the industry thrive despite near-term chip shortages. 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