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U.S. Economy Puts the Pedal to the Metal

Back in mid-December, my InvestorPlace colleague and friend, Matt McCall, and I released our first Power Portfolio. And we are pleased to say it performed better than even our wildest expectations. By Feb. 9, it was up a stunning 38.5% — about 5X the market’s average annual return in just seven-and-a-half weeks.

Street sign for Wall Street pictured in front of several American flags representing american stocks

Source: Shutterstock

And now, there’s another opportunity coming that could make the stock market go parabolic.

That opportunity is thanks in part to the robust U.S. economic recovery. Here are some of the signposts we are already seeing on that road map…

The Atlanta Fed increased its first-quarter GDP estimates again. It now expects first-quarter economic growth of 6.2%, up from the previously estimated 6%. The U.S. is also expected to boost global GDP growth more in 2021 than China for the first time since 2005. Remember, the U.S. is a robust consumer-driven market, and it is one-third larger than China. So, it has the potential to keep pace or even exceed China’s overall GDP growth this year.

The International Monetary Fund (IMF) even upped its GDP forecast for the U.S. recently. It expects the U.S. economy to grow at a 6.4% annual pace in 2021, compared to previous estimates for 5.1% annual growth. That’s the strongest economic growth in the U.S. since 1984. Even more impressive was the fact that the new orders component jumped to 68, and the employment component rose to 59.6. As a result, the U.S. manufacturing boom is expected to persist and create even more jobs.

Speaking of jobs growth, the U.S. created more jobs than anticipated in March. The Labor Department revealed that a whopping 916,000 jobs were created last month, or the biggest monthly gain since August 2020. Economists were only expecting 675,000 jobs to be added in March. The January and February payroll reports were also revised higher, and the unemployment rate dipped to 6% in March, compared to 6.2% in February.

The reality is there is more hope spreading in Main Street and Wall Street that we may finally be on the other side of the global COVID-19 pandemic. Approximately one-third of the entire U.S. population (aged 18 and older) has received at least their first dose of the COVID-19 vaccine, and more folks are growing more and more comfortable with getting out and about again.

I should also add that a more optimistic consumer tends to boost retail sales, and consumer confidence is now back to March 2020 levels. The Conference Board reported that its consumer confidence index rose to 109.7 last month, up from 90.4 in February.

The bottom line: The U.S. economy is putting the pedal to the metal.

Matt and I will talk more about the U.S. economic recovery on Tuesday, April 20, at 7 p.m. ET in our Road Map to Recovery event. If you haven’t yet, click here to reserve your spot now.

As we said yesterday, now is an incredibly exciting time to invest. With a return to normal in sight, a technological and economic boom is set to kick off in a meaningful way. That’s why we believe 2021 will be one of the greatest years to be an investor.

Sincerely,

Louis Navellier

On the date of publication, Louis Navellier did not hold (either directly or indirectly) any positions in the securities mentioned in this article. 

Louis Navellier, who has been called “one of the most important money managers of our time,” has broken the silence in this shocking “tell all” video… exposing one of the most shocking events in our country’s history… and the one move every American needs to make today.


Article printed from InvestorPlace Media, https://investorplace.com/2021/04/u-s-economy-puts-the-pedal-to-the-metal/.

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