Fed Feeling Upbeat

Economic Blog
November 21, 2019

An upbeat economic outlook may be edging out elevated downside risks in the Federal Reserve’s (Fed) decision-making.

Minutes from the Fed’s October meeting showed policymakers discussed both dynamics at length, as they have at several meetings this year. The Fed ended up reducing the fed funds rate by 0.25%, citing low inflation and downside risks as reasons to lower the policy rate for a third time this economic cycle.

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Market Update: Thurs, Nov 21, 2019 | LPL Financial Research

Daily Insights

Conflicting signals. U.S. stocks are little changed this morning as conflicting trade headlines pour in. The S&P 500 Index declined on November 20, notching its first string of consecutive declines since October 8, after reports suggested the United States and China may not finalize a limited trade agreement by the end of the year. Continue reading

Consumers Open Up Their Wallets

Economic Blog
November 15, 2019

U.S. consumers continue to open up their wallets, according to the October retail sales report.

Retail sales rose 0.3% last month, the measure’s seventh gain in eight months. Retail sales’ rise was led by a 1.1% gain in gasoline store sales and a 0.9% increase in sales at “non-store retailers.” Furniture and clothing sales dropped the most of all categories. Control group sales, which we view as a cleaner measure of retail sales’ contribution to gross domestic product (GDP), rose 0.3%. Continue reading

Market Update: Fri, Nov 15, 2019 | LPL Financial Research

Daily Insights

Seasonal uptrend. It’s beginning to look a lot like a Santa Claus rally as the S&P 500 Index pushes toward its ninth record high in three weeks. The S&P 500 hasn’t posted two consecutive declines for 27 trading days, the longest streak since January 2012. The benchmark also just broke a 24-day streak of being above–but not touching on an intraday basis–its 10-day moving average, which was its longest streak since March 1998. Stocks have crept higher in an unusually calm fashion, with the S&P 500 trading in a range smaller than 1% in 24 straight trading sessions. Continue reading