Stocks Up As The Q4 Rally Continues

Market Moves You Need to See Stocks Up As The Q4 Rally Continues [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Up As The Q4 Rally Continues [Stocks Up As The Q4 Rally Continues]Image: Bigstock Stocks closed higher yesterday to kick-off the last trading week of the year. The small-cap Russell 2000 led once again with an outsized gain of 1.31%. While small-caps and mid-caps lagged the big 3 indexes (Dow, S&P, Nasdaq) for much of the year, they have been playing a fast-paced game of catch up, and are now beating the Dow with gains of 17.0% and 15.6% respectively vs. the Dow's 13.3%. They still have a ways to go to catch the S&P's 24.4%, and the Nasdaq's 44.0%. Nonetheless, they have been crushing it, along with all of the other indexes, since putting in their correction lows in late October. Yesterday's Chicago Fed National Activity Index came in at 0.03 for November vs. October's -0.66 and views for 0.20. The 3-month moving average was at -0.20, an improvement from last month's -0.26. The Case-Shiller Home Price Index was up 0.6% m/m (adjusted), in line with expectations. On an unadjusted basis it was up 0.1% m/m, and 4.9% y/y vs. last month's 3.9% and views for 5.0%. And the Dallas Fed Manufacturing Survey came in at -9.3, improving from last month's -19.9, and beating the consensus for -20.5. The Production Index was at 1.4 vs. last month's -7.2. Today we'll get the Richmond Fed Manufacturing Index, and the Survey of Business Uncertainty. Just 3 more trading days left in the year. The Santa Claus rally continues. And technically, it extends to the first 2 trading days of the new year. But even when the Santa Claus rally officially ends, there's plenty of reason to expect the bull market to keep going in 2024. With inflation on the decline, interest rates expected to head lower, and the outlook for corporate earnings on an upward trend of improvement, it looks like it could be shaping up to be another impressive year. Add in that stocks typically do well in Presidential election years (while the 4-year Presidential Cycle shows that year 3 (2023), is the best year for stocks, year 4 (that's 2024), is the second-best year), and the odds for another great year just keep getting better and better. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [Only own the best: 7 stocks poised for greatness in 2024]( The uncertainty rattling the markets is off the charts. But according to one of America's leading tech investors, if you're looking to protect your portfolio from the chaos and even significantly grow it in 2024... You need to own these 7 stocks. 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