| Strong Start To The Week, S&P Hits New Recovery High, Nasdaq At New All-Time High Close  Image: Bigstock Stocks finished solidly higher yesterday with the S&P making another new recovery high, and the Nasdaq making another new all-time high close.
Earnings season has lifted stocks over the last few weeks. Not surprising since stocks typically go up during earnings season. And with this earnings season coming in better than expected, stocks are responding accordingly.
There's a lot more earnings on the way with an additional 1,661 companies reporting this week, and another 1,193 next week.
Better than expected economic reports have also been supportive as well. That was underscored by yesterday's ISM Manufacturing Index which came in at 54.2, beating last month's 52.6 and views for 53.5.
And the PMI Manufacturing Index also beat last month with a print of 50.9 vs. 49.8.
Today we'll get a look at Retail Sales, Motor Vehicle Sales, and Factory Orders. Tomorrow we'll get the ADP Employment Report, Mortgage Applications, the PMI Services Index, and the ISM Non-Manufacturing Index. Thursday we'll get Weekly Jobless Claims. And then the main event will be on Friday when we get the always important Employment Situation Report.
The market this week will also be monitoring the fate of the fourth coronavirus relief/stimulus bill. Even though many of the benefits that were provided in the previous three relief bills (namely the unemployment benefits), expired last Friday, Congress has yet to reach an agreement on what to do next. Although there's still hope that something will get done, somehow, and in some way.
In the meantime, the economic recovery continues. And so does the market.
And with calls for unprecedented growth for the remainder of the year, it looks like there's a lot more upside to go.
So make sure you're taking full advantage of it.
See you tomorrow, 
Kevin Matras Executive Vice President, Zacks Investment Research | | Sponsor The Top 5G Stocks to Buy Now
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