Stocks Soared Yesterday, Nasdaq Makes Another New All-Time High

Plus 5 New Strong Buys for Today

Profit from the Pros By Kevin Matras Executive Vice President

Stocks Soared Yesterday, Nasdaq Makes Another New All-Time High Image: Bigstock Stocks closed sharply higher yesterday as the historic rally continued and the Nasdaq made another new all-time high. Last week's better than expected Employment Situation Report where it showed we gained another 4.8 million jobs vs. expectations for 'just' 3.0 million jobs, continued to buoy the market. And that comes on the heels of the previous month's blowout Employment Report which showed 2.7 million jobs were gained vs. expectations for -7.7 million jobs lost. And that follows a long list of other strong economic reports in the past couple of weeks proving the economy is bouncing back bigger and faster than had been expected. And even though new coronavirus cases have been on the rise, the market's gains suggest that traders view this as transitory and that it will not significantly impact the long-term reopening of the economy. Of course, if the spread continues, or worsens, or if the mortality rate starts to increase, that will be bad news health-wise and for the economy, because that would suggest greater measures might need to be taken to get it under control. But for now, the economy continues to reopen, bumps and all, and we're seeing great pent-up economic demand being unleashed virtually everywhere. And that's why stocks continue to soar. And quite frankly, there's also a good deal of excitement over the prospect of having a vaccine ready either by year's end or early next year. While that sounds like a long way off, the market is forward looking. Gilead, Pfizer, and AstraZeneca all have vaccines in the works that have shown positive results. There's plenty more testing to do. But the race is on. And once a vaccine is finally approved, that will be a day to remember as it will mark the beginning of when the whole world can finally get back to normal and put this pandemic behind us. In the meantime, the 'Great Suppression' is over, and top analysts are expecting unprecedented economic growth for the remainder of the year. This is history in the making, so make sure you're taking full advantage of it. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor Little-known $4 tech stock set to unleash 1000% gains This company is set to unleash what Bill Gates calls "next big thing in computing" -- and could make you up to 1000% gains. But most people haven't even heard of this technology. Now is your chance to jump on board before FDA approval which will send this $4 tech stock soaring. Urgent details here. Most Popular Articles from Zacks.com Image: Bigstock 5 Years Of Digitalization In 5 Months We have seen 5 years of digitalization compressed into 5 months with the global pandemic accentuating the world's reliance on technology. Read More » Image: Bigstock Brokers Are Recommending These Stocks, And with Good Reason These stocks will generate the growth you're looking for, operating in industries that are expected to do better than others and are recommended by brokers. Read More » Image: Bigstock 4 S&P 500 Retail Stocks That Appear to Be Solid Bets for 2H Each of these Retail-Wholesale sector stocks holds a Zacks Rank #1 (Strong Buy) or 2 (Buy) and a VGM Score of A or B. Read More » Image: Shutterstock Can E-Commerce Revive Coronavirus-Hit Transportation Sector? E-commerce is witnessing higher demand now amid the pandemic-induced social-distancing protocols, quarantine and lockdowns. Read More » Image: Shutterstock Online Shopping Still a Hot Trend: 5 Stocks Set to Rally Looking at the current uptrend, this robust outperformance should keep going. Hence, we have shortlisted five online retailers which can make the most of this current boom. Read More » Sponsor Today, See Zacks' Top Stocks for Free Starting now, you can get instant access to the latest picks from our hottest market-beating strategies. From 2017 through 2019 they gained +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%. Zacks will also give you a free Special Report, Top 10 Stock Screening Strategies with formulas you can use to find high-potential gainers anytime you please. See Stocks Free >> Image: Bigstock Bull of the Day: Blackbaud (BLKB) This tech stock has a solid earnings history and has seen estimates for the full year start to tick higher again. Read More » New Zacks Strong Buys for July 7th Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. Read More »   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. 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