Stocks Soar, S&P Up 9 Out Of The Last 11 Days

Plus 5 New Strong Buys for Today ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

Stocks Soar, S&P Up 9 Out Of The Last 11 Days

	Profit from the Pros By Kevin Matras Executive Vice President
	Stocks Soar, S&P Up 9 Out Of The Last 11 Days Image: Bigstock Stocks soared yesterday, building on Monday's gains, which built on gains over the last two weeks. What a difference a few weeks makes. The Dow, from its all-time highs, is now only down -4.09%, the S&P is down just -3.44%, and the Nasdaq is down only -8.95%. And YTD, the numbers are even better with the Dow down just -2.87%, the S&P down by -2.82%, and the Nasdaq by -6.55%. Reports that Russia was removing some troops from Ukraine was welcomed news. Of course, what they say and what they do can be very different things. But if true, it would be a positive development. Although, with other troops moving southeast to the Donbas region, possibly signaling that Russia may be giving up their designs on Kyiv while they focus on other areas, is good news for Kyiv, it's less so for Donbas where cities like Donetsk and Luhansk are located, and which have been fighting Russian-backed separatists since 2014. In other news, yesterday's Redbook report showed same store retail sales up 12.9% y/y, up from last week's pace of 12.4%. The Case-Shiller Home Price Index rose an unadjusted 1.4% m/m vs. views for 1.0%. On a y/y basis, it was up 19.1% vs. the consensus for 18.4%. Consumer Confidence was also up, rising to 107.2 vs. last month's 105.7 and estimates for 107.0. And the Job Openings and Labor Turnover Survey report (or JOLTS for short), showed there was 11.266 million job openings for February. That's down slightly from last month's 11.283M job openings, but above the consensus for 11.100M. Either way, it once again shows that there are literally millions more jobs available than there are unemployed people to fill them. Today we've got MBA Mortgage Applications, the third and final reading on Q4 GDP (consensus is for 7.1%), Corporate Profits, and the State Street Investor Confidence Index. We'll also get another look at the jobs market with this morning's ADP Employment report. But the jobs report everybody is really waiting for is Friday morning's Employment Situation report. In the meantime, the economy continues to impress. And so does the market. See you tomorrow, Kevin Matras Executive Vice President, Zacks Investment Research
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