The Economy And The Markets Are In A Sweet Spot Right Now
Great way to start the week yesterday with all of the major indexes in the plus column and extending last week's rally.
Friday's spectacular Employment Report continued to energize the market. And this is a gift that should keep on giving for a while -- it was that good.
The Russell 2000 Small-Cap Index hit new all-time highs again yesterday. The Nasdaq notched a new all-time high close. And the Dow and the S&P each added to their ledger and should not be far behind.
There was not a lot of new news out yesterday. (Although last week's jobs numbers gave the market plenty of direction.)
Factory Orders was the only report on the docket and it capped off a "solid April for Manufacturing". Excluding the volatile aircraft component, it was up again, underscoring the robust manufacturing job gains reported last Friday and the strong ISM and PMI manufacturing numbers as well.
We'll get another look at the economy today with the PMI Services Index and the ISM Non-Manufacturing Index. We'll also get an update on retail sales via the Redbook numbers.
The economy and the market are in a sweet spot right now.
It's been a long time coming given the recent correction. But things are looking excellent.
And I'm expecting a lot more upside to come.
Best,
