Stocks Lower Yesterday, But Remain Near All-Time Highs

Plus 5 New Strong Buys for Today

Profit from the Pros By Kevin Matras Executive Vice President

Stocks Lower Yesterday, But Remain Near All-Time Highs Image: Bigstock Stocks finished lower yesterday, but remain near all-time highs. It was a great month with the S&P up 10.75%, the Nasdaq up 11.80%, the Dow up 11.84%, and the small-cap Russell 2000 up a whopping 18.29%. Take note of the Russell; as I've been saying, the breaking out of small-cap stocks has long been considered a powerful bullish signal. And their outperformance suggests even bigger moves ahead. Reports that Moderna would ask the FDA for Emergency Use Authorization on Monday suggests the vaccine, if approved, could be available for use as early as December 21st. Very exciting. In other news, yesterday's Dallas Fed Manufacturing Survey came in better than expected at 12.0 vs. expectations for 10.7. Today we'll get another look at manufacturing with the ISM Manufacturing Index, and the PMI Manufacturing report. We'll also get a look at retail sales with the Redbook report, and construction numbers via the Construction Spending report. We'll also hear from Fed Chair Jerome Powell, and Treasury Secretary Steven Mnuchin, as they testify before Congress on the importance of additional fiscal stimulus. Whether it be a sweeping bill, or something more targeted, there's widespread agreement that something should be done to further help those hardest hit by the pandemic. Maybe this will help jump-start those talks. And traders will be watching. In the meantime, our economic rebound continues to impress. And it looks like there's a lot more upside to go for both the economy and the market. So make sure you're taking full advantage of it. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research Sponsor Buffett Dumps $800M Of Apple, Buys This Instead! Through Berkshire Hathaway... Warren Buffett recently dumped $800 million of Apple stock... And bought this instead! He's now moved $3.8 BILLION in a tiny niche of the tech sector billionaires are flocking to... See full story here... Most Popular Articles from Zacks.com Image: Bigstock 5 of the Best Stocks to Buy Heading Into December Progress toward a coronavirus vaccine and Yellen yet again likely to be selected for a top post certainly bode well for stocks in December. Read More » Image: Shutterstock 5 Stocks to Win on Record Cyber Weekend Shopping Consumers shelled out about $9 billion (a new record) on the web on Black Friday, up 21.6% year over year. Read More » Image: Bigstock 3 Alternative Energy Stocks Braving Industry Headwinds Clean energy investment in the U.S. totaled $55.5 billion, reflecting a 28% increase from the prior year. Read More » Image: Bigstock 3 Stocks Worth a Look From the Resilient Air Conditioner & Heating Industry Although tariffs and the pandemic pose challenges, improved residential market and technological development bode well for the industry. Read More » Image: Bigstock 3 Growth Stocks to Buy for Your December Portfolio & Beyond We explore three highly-ranked, growth-focused stocks that investors might want to consider buying right now. 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 Q2 2020 they gained +50.9%, +93.8%, +122.2, +153.0%, and even +156.8%. 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: Capri Holdings (CPRI) This luxury retailer is benefiting from a surge in online sales and growth in China. Read More » New Zacks Strong Buys for December 1st Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. 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