Stocks Soar As Strong Economic Outlook Fuels Rally

Plus 5 New Strong Buys for Today

Profit from the Pros By Kevin Matras Executive Vice President

Stocks Soar As Strong Economic Outlook Fuels Rally Image: Bigstock Stocks soared again yesterday, with all of the major indexes closing solidly in the green. The Dow was up 0.88%, the S&P was up 1.64%, and the Nasdaq led the way with 2.56%. Continued expectations that a stimulus deal will get done sooner or later is helping to underpin stocks. And as I mentioned yesterday, the market appears less concerned over the timing of a deal (whether it's before the election or after), and more concerned with the binary question of will there or won't there be a deal. And the market appears to believe that there will indeed be a deal – eventually. The market is also cheering the steady improvement to the economy. Almost nobody expected the economy to have recovered so quickly. Yet here we are. And the market is responding accordingly. Moreover, Q3 GDP is expected to come in at more than 35%. The largest in history. In fact, analysts are expecting unprecedented growth for the remainder of the year. And for the annual GDP in 2021 to come in at 5%, which would be the largest annual growth rate in 38 years! All of that points to a strong economic outlook. And that suggests a lot more upside to go for the markets. So make sure you're taking full advantage of it. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor Get Out of Cash with These 3 Stocks The cashless revolution is underway, with a handful of small companies delivering triple-digit gains. One Wall Street expert just named 3 stocks to buy. Learn more here. Most Popular Articles from Zacks.com Image: Bigstock 4 Auto Stocks to Pick Ahead of Q3 Earnings as Industry Revs Up U.S. auto sales are showing signs of recovery as demand for new vehicles has been rising following the gradual reopening of the economy. Read More » Image: Bigstock 3 Top Stocks From the Flourishing Business Services Industry We present three stocks currently carrying a Zacks Rank #2 (Buy) and well positioned to grow in the near term. Read More » Image: Bigstock Apple & 5 Supplier Stocks to Gain From Upcoming 5G iPhones Apple is reportedly preparing its suppliers to mass-produce more than 75 million of the new 5G-enabled iPhones. Read More » Image: Bigstock AMZN Soars on Prime Day Before Holidays: Should Others Worry? The online retail giant is conducting the Prime Day event twice a year for the first time. Read More » Image: Bigstock 5 Charts to Kick-Off Earnings Season It's not just the big banks reporting earnings this week. Leaders in healthcare, transportation and manufacturing are too. Read More » Sponsor Why Haven't You Looked at Zacks' Top Stocks? Our 5 best-performing strategies have blown away the S&P's impressive +44.0% gain from 2017 through Q2 2020. Amazingly, they soared +50.9%, +93.8%, +122.2, +153.0%, and even +156.8%. Today you can access their live picks without cost or obligation. See Stocks Free >> Image: Bigstock Bull of the Day: Walmart Inc. (WMT) Walmart has showed off its growing e-commerce strength during the coronavirus. Read More » New Zacks Strong Buys for October 13th 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. 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. 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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