Stocks Soared Yesterday, Closing At New Record Highs  Stocks soared yesterday with the S&P and the Nasdaq both making new all-time highs, and the Dow making a new all-time high close.
Growing optimism over a U.S.-China trade deal continues to underpin the market.
This was underscored yesterday when China agreed to crack down on intellectual property theft. They released a document that reads, 'strengthening IPR (Intellectual Property Rights) protection is the most important content of improving the IPR protection system and also the biggest incentive to boost China's economic competitiveness.'
They went on to describe enforcement of IPR, punitive compensation for IPR violations, and stressed how they need to step up international cooperation in IPR protection.
The positive framing of this issue and the release of this document showed a level of seriousness surrounding IPR that's been missing from China's narrative for the last year and a half of talks. And that's given a boost to those expecting that a phase one trade agreement is still on track for approval sooner rather than later.
As we've been saying all along, it's clear that both countries want to make a deal.
Whether we see a phase two or phase three deal remains to be seen.
But a lessening of trade tensions, a rollback of some tariffs, and an increase in the purchasing of each other's goods, is more than enough to send stocks soaring even more.
Note, we do have a shortened trading week due to Thanksgiving on Thursday. In fact, the market is closed on Thursday, and will close early on Friday.
And while volumes will likely thin out as the week goes on – there's no shortage of things to get excited about. And with that, I'm expecting an equally exciting time in the market.
As I've been saying over and over, these indeed are historic times for the economy, and historic times for the market.
So make sure you're taking full advantage of it.
See you tomorrow, 
Kevin Matras Executive Vice President, Zacks Investment Research |
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