- New LPL Market Signals Podcast. On the latest episode of the LPL Market Signals Podcast, listen to LPL Financial Chief Investment Strategist John Lynch and Senior Market Strategist Ryan Detrick discuss signs for strong third-quarter earnings and a potential year-end rally following the stock drop.
- Introducing LPL Research Weekly Insights: We are excited to introduce a mobile-friendly, client-approved overview of our weekly commentaries and blog highlights. LPL Research Weekly Insights is easily shared via social platforms and email, and can also be embedded on your websites. Get our most recent digital download today, and look for an update this afternoon!
- Stocks resume slide. The S&P 500 Index slid 0.6% yesterday, extending losses to 6.1% since the benchmark closed at a record high on September 20. The S&P 500 has closed lower in 13 of 17 trading sessions since then as investors have had to contend with a surge in longer-term yields and trade war concerns.
- Italy’s budget agreement. U.S. equities are higher this morning amid a worldwide rally in equities after Italy’s government reached an agreement on its budget, which will be submitted to the European Union (EU). European stocks climbed the most since September 20 on the accord, which promises to ease political tensions after Italy’s leaders unveiled a deficit target earlier this month that clashed with the EU’s limit.
- Takeaways from fixed income. Last week’s sharp equity selloff broke months of historic calm for U.S. stocks. As investors clamor for answers, we highlight our biggest takeaways from credit’s response to the volatility in today’s LPL Research blog post, due out later today.
- Treasury futures’ positioning. Non-hedging investors in 10-year Treasury futures think the surge in yields is overdone. Investors added the most long contracts to their positions since April 2017 in the five days ending Oct. 9, after the 10-year Treasury yield jumped to its highest level in seven years on Oct. 5. We view this positioning as an indicator of sentiment in Treasuries, which could signal a future path for yields. Before this month, investors had built a record short position in 10-year Treasury futures, predicting lower prices (and higher yields).
- Industrial Production MoM (Sept)
- UK Unemployment Rate
- German ZEW Economic Sentiment
- China Money Supply
- MBA Mortgage Applications
- Retail Sales Advance MoM (Sept)
- Housing Starts (Sept)
- Building Permits (Sept)
- UK PPI Output
- EU CPI Harmonized
- Initial Jobless Claims
- Leading Index (Sept)
- China GDP Y/Y
- China Industrial Output Y/Y
- China Retail Sales Y/Y
- Existing Home Sales (Sept)
- Baker Hughes U.S. Rig Count (Oct)
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Index data obtained via FactSet
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