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The labor market recovery looks promising as unemployment claims remained low last week, indicating that employers are retaining their workers and are hiring more. And the trillion-dollar infrastructure act and proposed Build Back Better spending plan are expected to provide the economy with a considerable stimulus.
New York-based financial analysis firm CFRA Research expects greater room for stocks to soar in December, given the market’s good performance after its October low. Therefore, popular ETFs SPDR S&P 500 ETF Trust (SPY), iShares Russell 2000 ETF (IWM), Energy Select Sector SPDR Fund (XLE), and Industrial Select Sector SPDR Fund (XLI) could be solid investments now.
