Stocks Closed Mostly Higher Yesterday, Dow And S&P Notch New All-Time High Closes

Market Moves You Need to See Stocks Closed Mostly Higher Yesterday, Dow And S&P Notch New All-Time High Closes [Kevin Matras - EVP - Photo] Profit from the Pros By Kevin Matras Executive Vice President Stocks Closed Mostly Higher Yesterday, Dow And S&P Notch New All-Time High Closes Stocks closed mostly higher yesterday to start the week. Only the small-cap Russell 2000 finished lower, giving up -0.34%. But the Dow and the S&P 500 each notched another new all-time high close. After all of the indexes closed higher last week for the second week in a row, most are off to another good start in an effort to make it 3 up weeks in a row. But we have lots of week left with plenty of important reports. Yesterday's Chicago Fed National Activity Index improved to 0.12 vs. last month's -0.42 and views for 0.0. And the PMI Composite Flash report showed the Composite Index at 54.4, just under last month's upwardly revised 54.6 (from 54.1), but above the consensus for 53.0. The Manufacturing Index was at 47.0 vs. last month's 47.9 and views for 48.5, while the Services Index was at 55.4 vs. last month's 55.7 and estimates for 55.2. Today we'll get the Case-Shiller Home Price Index, the FHFA House Price Index, the Richmond Fed Manufacturing Index, and Consumer Confidence. But the report everybody is really waiting for is Friday's Personal Consumption Expenditures (PCE) index, which is the Fed's preferred inflation gauge. Even though the Fed has already commenced their rate-cutting cycle with last week's 50 basis point inaugural cut, and forecast rates dropping to 4.40% by year's end, and to 3.4% by the end of next year, they insist they will remain data dependent. As such, Friday's report will show if we continue to make progress on inflation. After Friday's PCE report, the focus will shift to next week's Employment Situation report by the Bureau of Labor Statistics (BLS). With inflation on the decline, the BLS report might very well be the bigger of the two as it will show if we are still headed for a soft landing with job growth slowing but still solid, or whether we could be in for a rougher landing with jobs dropping more than expected. Regardless of which may be the most important report, they are both important measures for the Fed given their dual mandate of price stability (low inflation), and maximum employment. Another thing to watch for this week is if Congress can pass their spending bill (or at least a continuing resolution, i.e., CR) by the end of the month (Monday, 9/30) to avoid a government shutdown. The House and Senate reached an agreement over the weekend. The House will put it up for a vote on Wednesday. If successful, it'll then go to the Senate. In the meantime, we'll see if the market can continue to build on last week's extended rally. See you tomorrow, [Kevin Matras - Signature] Kevin Matras Executive Vice President, Zacks Investment Research [See Zacks' Top Stocks for Free]( Starting today, you can get instant access to the latest picks from our time-proven strategies which since 2000 have soared far above the market. While the S&P 500 averaged +7.0% per year, our top strategies averaged gains as high as +44.9%, +48.4% and +55.2% per year. You'll also get our free Special Report, Top 10 Stock Screening Strategies that Make Money which spells out the formulas behind these top strategies. [See Stocks Free »]( Today's Top Research [5 Reasons Why 2025 Will See a Nuclear Energy Revival]( Despite being marred by its negative reputation, nuclear power is among the safest and most affordable energy sources. [Read More »]( [5 Traits of Breakaway Gaps (CEG Real-time Example)]( Breakaway gap technical set ups often produce big stock market returns. [Read More »]( [First September Gains in 5 Years? Buy 3 Breakout Stocks Now]( BVS, GLDD and AXGN are best bets on breakout stocks to take advantage of the market's broader upward movement. [Read More »]( [5 Must-Buy Large-Cap Stocks With Triple-Digit Returns This Year]( Providing triple-digit returns year to date, APP, PLTR, SFM, THC and VST have strong earnings and revenue growth potential. [Read More »]( [3 ETF Sectors Hitting 52-Week Highs After Fed Rate Cut]( Utilities ETFs UTES, XLU and FUTY all hit 52-week highs on Sept. 20, 2024. [Read More »]( [Increase Investment Returns with Free Zacks' Portfolio Tracker]( Catch breaking news on your stocks and funds at a glance, including timely recommendation changes ... Zacks Ranks ... Industry Ranks ... earnings announcements ... earnings estimate revisions ... and more. And now you can screen for new stocks to improve portfolio performance. [Click for Free Tracker & Screener »]( [Bull of the Day: Axis Capital Holdings (AXS)]( AXS has a total return of +90% over the last three years. [Read More »]( [New Zacks Strong Buys for September 24th]( Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today. [Read More »]( More Zacks Resources Mobile App Download our app for convenient on-the-go access to even more—daily and weekly newsletters published by Zacks experts, proprietary research and tools, and Portfolio Tracker on Zacks.com. [Download our Zacks App for Apple iOS]( [Download our Zacks App for Android]( Zacks Members' Success Stories Visit [Success Stories]( to hear how Zacks research, tools and portfolios help our members outperform the market. Get all of our market insights and much more when you connect with us. [Visit Zacks on Facebook]( [Follow Zacks on Twitter]( [See Zacks videos on YouTube]( [Join Zacks on LinkedIn]( [Read Zacks Commentary on StockTwits]( This free resource is being sent by [Zacks.com](. We look for investment resources and inform you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms of Service". [www.zacks.com/terms_of_service]( Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research is not a licensed securities dealer, broker or US investment adviser or investment bank. The Zacks #1 Rank Performance covers the period beginning on January 1, 1988 through August 5, 2024. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank #1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit [( for information about the performance numbers displayed above. Zacks Emails If you would prefer to not receive future profit-producing emails from [Zacks.com]( the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, then please [click here]( and confirm your request. If you have trouble with the unsubscribe link, please email support@zacks.com. Zacks Investment Research 10 S. Riverside Plaza, Suite 1600 Chicago, IL 60606