Daily Insights
On the Recession Watch. With the S&P 500 Index at record highs, our outlook remains optimistic, but we don’t want to be complacent. We take a look at some of our favorite leading indicators to see what they say about the economic expansion and its accompanying bull market. Continue reading
Market Blog
November 19, 2019
“We’re going streaking!” Frank The Tank in Old School
As the bull market continues to make new highs, the past few weeks have seen some amazing market streaks. Here are three that have caught our attention.
Daily Insights
On the Recession Watch. With the S&P 500 Index at record highs, our outlook remains optimistic, but we don’t want to be complacent. We take a look at some of our favorite leading indicators to see what they say about the economic expansion and its accompanying bull market. Continue reading
Daily Insights
Big week for retailers. Third quarter S&P 500 Index earnings growth is tracking to a 2.3% year-over-year decline, nearly 2 percentage points above the September 30 estimate with about 470 S&P 500 companies having reported. Continue reading
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
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
Economic Blog
November 14, 2019
The long wait may be over. No, we aren’t talking about a U.S.-China trade agreement, though that may come before the end of this year. The two sides continue working on a few sticking points.
We’re talking about stabilizing global growth, which has been elusive over the past two years.
Daily Insights
Another record high. U.S. stocks are lower this morning, taking a step back after the S&P 500 Index’s seventh record high in three weeks. The benchmark eked out another record high on November 13, defying headlines suggesting the United States and China hit a snag in discussions of a limited trade agreement. Continue reading
Economic Blog
November 13, 2019
Consumer inflation continued at a moderate, but manageable, pace in October.
As shown in the LPL Chart of the Day, the core Consumer Price Index (CPI), which excludes food and energy prices, rose 2.3% year over year in October. That’s slightly lower than September’s 2.4% year-over-year growth, which was the fastest pace of the economic cycle.
Daily Insights
More negative headlines. U.S. stocks are lower this morning after President Donald Trump said on November 12 that the United States would consider raising tariffs on China if a limited trade agreement isn’t reached. The statement weighed on the S&P 500 Index, which pared as much as 0.5% in intraday gains during Trump’s speech yesterday. Continue reading