A Bunch Of Top-Ranked Growth ETFs Hitting New Highs (Revised)

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Wall Street has been hitting a series of record highs this month on renewed optimism over speedy economic recovery from the pandemic-driven recession. A massive fiscal relief package, signs of a healing labor market, continued progress in more vaccines and a rapid vaccination rollout has rekindled investors’ appetite for riskier assets.

The weak jobs data last week bolstered the case for additional stimulus. Both the Senate and the House of Representatives has passed a budget resolution, allowing Congress to continue moving forward with its $1.9 trillion coronavirus stimulus bill. The package includes another round of $1,400 stimulus checks, hundreds of billions of dollars in state and local aid, and enhanced federal unemployment benefits. Per Treasury Secretary Janet Yellen, the U.S. could return to full employment by 2022 – or two to three years ahead of some current projections – if measures in Biden's $1.9 trillion coronavirus relief plan are enacted (read: Sector ETF Winners & Loser in Light of January Job Gains).

Additionally, upbeat earnings have been driving the stocks higher as stronger-than-expected results for the fourth quarter have led analysts’ to raise their estimates for the coming quarters. In fact, earnings growth for Q4 has turned modestly positive, following three-straight quarters of decline, thanks to impressive results from the tech sector leaders.

Moreover, the COVID-19 infections started to decline as new cases averaged just below 118,000 per day over the past week, marking a drop of 31% from the average two weeks earlier, according to New York Times data.

While every corner of the market are enjoying a solid ascent, growth investing has taken charge this month.

Why Growth?

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