Market Update: Wednesday, May 16, 2018

MacroView_header

Daily Insights

  • Economic growth forecasts tracking above 3%. With half of the second quarter now in the rearview, consensus forecasts are tracking to 3.1% gross domestic product growth for this quarter, while forecasts from the Atlanta and New York Federal Reserve Bank’s show 4.1% and 3.1%, respectively. With economic surprises, on average, being to the upside, second quarter growth exceeding 3.0% would represent a very solid quarter and push full-year growth nearer to the 2.75-3.0% range we are expecting.

  • Eurozone data disappoints. After a stretch of disappointing economic data from the Eurozone, the Citi Economic Surprise Index (which averages economic surprises compared to consensus expectations) has reached the lowest point since 2011. Later today on the LPL Research blog we dive into the contributing factors and what this means for the Eurozone going forward.

MonitoringWeek_header

Click Here for our detailed Weekly Economic Calendar

Wednesday

  • Housing Starts & Building Permits (Apr)
  • Germany: CPI (Apr)
  • Eurozone: CPI (Apr)
  • Italy: CPI (Apr)

Thursday

Friday

  • Germany: PPI (Apr)

 

IMPORTANT DISCLOSURES

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual security. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. The economic forecasts set forth in this material may not develop as predicted.

All indexes are unmanaged and cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment.

Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments.

This research material has been prepared by LPL Financial LLC.

To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL Financial LLC is not an affiliate of and makes no representation with respect to such entity.

The investment products sold through LPL Financial are not insured deposits and are not FDIC/NCUA insured.  These products are not Bank/Credit Union obligations and are not endorsed, recommended or guaranteed by any Bank/Credit Union or any government agency.  The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

Index data obtained via FactSet

Member FINRA/SIPC

For Public Use – Tracking # 1-730916 (Exp. 5/19)