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

Market Update: Thurs, Nov 14, 2019 | LPL Financial Research

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

Moderate But Manageable Inflation

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.

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Market Update: Wed, Nov 13, 2019 | LPL Financial Research

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