| Stocks End Lower, But Remain Near All-Time Highs  Image: Bigstock Stocks closed lower yesterday, but remain near their all-time highs.
It's been an amazing year. And with two more days to go before the end of the year, it's not over yet.
It was reported that the $600 stimulus checks began going out last night.
That's great news, and should immediately start making its way into the economy.
In fact, Goldman Sachs even upped their Q1 GDP estimate from 3% to now 5% because of the vaccines and the stimulus package.
They also increased their full year 2021 GDP estimate from 5.3% to 5.8%.
And they might have to increase it again if Congress passes their latest bill which ups the stimulus checks from $600 to $2,000.
The House already passed such a measure on Monday. The Senate is expected to vote on a similar provision shortly. We shall see.
But even before the recent $900 billion relief bill was signed into law, and before the push for increased payments, Congress was already talking about another stimulus/relief bill in the new year.
Whether we get more money sooner or later, it does look like more money is coming. That's great news for those individuals and businesses who need it. That's great news for the economy. And that, of course, is great news for the market.
In the meantime, the economy continues to rebound. The 3rd and final estimate for Q3 GDP was just bumped up from 33.1% to 33.4%, which is a new record. Q4 GDP, according to estimates from the Federal Reserve Bank of Atlanta, is expected to come in at 10.4%. And aside from last quarter, that would be the highest quarterly growth rate in more than 36 years. And full-year GDP in 2021 is expected to be the best in 38 years!
So it looks like there's a lot more good news ahead for the economy.
And a lot more upside to go for the markets.
See you tomorrow, 
Kevin Matras Executive Vice President, Zacks Investment Research | | Sponsor 10 Cheap Stocks to Buy Now
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