Stocks Soared Yesterday, 1 More Trading Day To Go

Plus 5 Just-Added Strong Buys Stocks Soared Yesterday, 1 More Trading Day To Go [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Soared Yesterday, 1 More Trading Day To Go [Stocks Soared Yesterday, 1 More Trading Day To Go]Image: Shutterstock Stocks soared yesterday with all of the indexes up sharply. The Nasdaq led the way with a gain of 2.59%, followed by the small-cap Russell 2000 with 2.57%, the S&P with 1.75%, and finally the Dow with 1.05%. Yesterday's rally turned stocks positive for the week (sans the Nasdaq, but they are only 0.20% away from getting over that threshold), with one more trading day to go. But it's looking like they will all buck the seasonal tendency of a higher December and finish lower for the month. Yesterday's Weekly Jobless Claims rose by 9,000 to 225,000 vs. the consensus for 222,000. The smoother 4-week moving average came in at 221,000. The EIA Natural Gas Report showed supplies down -213 billion cubic feet (Bcf), on w/w basis, compared to last week's -87 Bcf draw. And the EIA Petroleum Status Report showed crude oil inventories rose 0.7 million barrels (Mbbl), on a w/w basis, vs. last week's -5.9 Mbbl change. Gasoline inventories dropped -3.1 Mbbl, while distillates increased by 0.3 Mbbl. Today, we'll get the Chicago PMI (Purchasing Managers' Index), and the Baker Hughes Rig Count report. Markets trade normal hours today. But once the bell rings at the close, that will be a wrap on the markets for 2022. And it looks like stocks are headed for their worst year since 2008. We still have one more trading day to go, but so far, the so-called Santa Claus rally looks to be a bust (although, yesterday showed some promise). And the seasonal tendency for December to be one of the strongest months, also looks to be a disappointment as well. That being said, feel free to take the next seasonal tendency with a grain of salt – but next year could be setting up for a solid year. That's because, the 4-year Presidential Cycle shows that year 3 (that's 2023), is the best year of all 4 years. In fact, since 1950, stocks have always gone up in the year after midterms, with an average 12-month forward return of 18.6%. If that statistic holds up, 2023 could look markedly different than 2022. (Let's hope so.) Remember, markets will be closed on Monday in observance of New Year's Day. Trading will resume on Tuesday. In the meantime, Happy New Year's! [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Countdown Begins: Zacks Top 10 Stocks for 2023]( Position your portfolio for outperformance with our most powerful long-term recommendations. From a universe of more than 4,000 stocks these 10 have been handpicked as the best buy-and-hold stocks for the year. Since 2012, our Top 10 portfolios have TRIPLED the market. While the S&P 500 gained +287.4%, Zacks Top 10 Stocks skyrocketed +884.5%. Be among the first to see the new stocks when they're released Tuesday, January 3 at 11:00 a.m. ET. [Be First to See Them »]( Most Popular Articles from Zacks.com [3 Bullish Setups Heading into the New Year]( These three stocks look to have more upside as we head into the new year. [Read More »]( [3 Hot Mid-Caps During a Cold December]( Despite a poor performance in December, several mid-cap stocks are hot heading into the New Year. [Read More »]( [3 Food Stocks Bargain Hunters Wouldn't Want to Miss Buying Now]( With strong fundamentals and robust potential, these food stocks are likely to add flavor to investor portfolios. [Read More »]( [3 Great Stocks to Buy in 2023 and Hold Forever]( Investors with long-term horizons should seriously consider buying proven large-cap stocks poised to grow within essential industries heading into 2023. 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[Read More »]( [New Zacks Strong Buys for December 30th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( More Zacks Resources Mobile App 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]( Zacks Members' Success Stories Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. Get all of our market insights and much more when you connect with us. [Visit Zacks on Facebook]( [Follow Zacks on Twitter]( [See Zacks videos on YouTube]( [Join Zacks on LinkedIn]( [Read Zacks Commentary on StockTwits]( This free resource is being sent by [Zacks.com](. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. 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