Stocks Get Ready For A Shortened Holiday Trading Week

Plus 5 New Strong Buys for Today Stocks Get Ready For A Shortened Holiday Trading Week [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Get Ready For A Shortened Holiday Trading Week [Stocks Get Ready For A Shortened Holiday Trading Week]Image: Bigstock Stocks ended higher on Friday, but lower for the week. It was a busy week of earnings, economic reports, inflation news, and more. But by the end of the week, while closing lower, it was not that far off from where the week began. On Friday, Existing Home Sales came in at 4.43 million units (annualized). That's down -5.9% from last month's 4.71M, but above the consensus of 4.36M. On a y/y basis, it's down -28.4%. Leading Indicators were down -0.8% m/m vs. last month's -0.5% and views for -0.4%. And E-Commerce Retail Sales were up 3.0% q/q vs. last quarter's pace of 2.7%. Not much in the way of economic reports out today. But things pick up tomorrow with the Richmond Fed Manufacturing Report, and the Richmond Services Index. In spite of a lower week last week, stocks in general continue to enjoy the positive seasonal effects on the market, which includes Q4 typically being the best quarter for socks, and the post-midterm effect which shows that since 1950, stocks have always gone up in the year after midterms, with an average 12-month forward return of 18.6%. So we are at the beginning of one of the best times for stocks. Add in the many positive fundamentals that are supporting the market right now, and it looks like there's a lot more upside to go. Note: markets will be closed on Thursday 11/24 for Thanksgiving, and close early on Friday 11/25. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research Sponsor [5 Hypergrowth Stocks to Own in 2023]( Luke Lango has found 14 stocks that have gone up over 1,000% - now he’s naming his top stocks for 2023 in a new free report. [Click here to claim your free copy.  ]( Most Popular Articles from Zacks.com [4 Restaurant Stocks to Buy on Continued Growth in Sales]( The restaurant industry has so far managed to put up a decent show, with sales surging almost every month. [Read More »]( [These S&P 500 Companies Generate Substantial Cash]( A company displaying free cash flow strength can consistently shell out dividends and wipe out debt easily. [Read More »]( [Bet on China ETFs on a Solid Turnaround]( We have highlighted five funds that have outperformed the Hang Seng Index. 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