Stocks Up For The Week, S&P Hits New Record Close  Image: Bigstock Stocks closed higher on Thursday and for the week with the S&P hitting a new record close. The strengthening economy continues to drive stocks higher, as it should. And it looks like there's still more upside to go. We all knew that the economy was expected to accelerate into the end of the year, and that's exactly what we're seeing. After Q3's GDP came in at 2.3%, the Federal Reserve Bank of Atlanta put Q4's estimate at 7.2%. And it's easy to see why. Record low interest rates, a record amount of stimulus money, a record amount of pent-up economic demand, and record corporate profits, are ushering in a record economic rebound. And that's expected to continue the record rally in the stock market. It also doesn't hurt that December is typically a strong month for stocks. Investors continue to watch the rising Omicron case count. But the symptoms of the variant continue to appear mild. And the economic impact has been muted. In fact, the holiday sales numbers are in, and in spite of Omicron, not to mention supply chain issues, sales were up 8.5%, which is the fastest pace in 17 years. We've got a full slate of economic reports on deck this week, starting with today's Dallas Fed Manufacturing Survey. And unlike last week, we've got a full 5-day trading week this week. And it looks like we could see a strong finish to the year. So make sure you're taking full advantage of it. See you tomorrow,  Kevin Matras
Executive Vice President, Zacks Investment Research | 
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