Daily Insights
Lowest number of new coronavirus reported. Futures are higher this morning, as on Wednesday China reported the lowest number of coronavirus cases since late January. Most scientists still expect the outbreak to peak sometime this month. Although markets are looking past the impact and tragic loss of more than 1,000 lives due to this pandemic, the near-term impact on the global economy remains uncertain. Key industrial metals like copper, iron ore, nickel, and aluminum have sold off due to the disruption to China’s economy and global supply chains.
Mr. Powell goes to Washington. Federal Reserve (Fed) Chair Jerome Powell appeared for his semi-annual testimony in front of the House Financial Services Committee yesterday and had positive things to say. The US economy is growing at a moderate pace and household spending remains solid, but business investment and exports are weak due to weak overseas growth. Overall, he held the Fed’s dovish tilt. He will speak again today at 10 a.m. ET.
February is here, and bulls like it. Stocks were slightly lower in January, but they’ve soared so far in February. In fact, the S&P 500 Index is up close to 4% so far this month, which would be the best February for stocks since 2015. Although historically February has been weak for stocks, during the past 10 years, February has actually been the best month of the year. We will take a closer look at February’s track record later today on the LPL Research blog.
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 professional prior to investing. The economic forecasts set forth in this material may not develop as predicted.
All company names noted herein are for educational purposes only and not an indication of trading intent or a solicitation of their products or services. LPL Financial doesn’t provide research on individual equities.
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.
All performance referenced is historical and is no guarantee of future results.
This research material has been prepared by LPL Financial LLC.
Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC).
Insurance products are offered through LPL or its licensed affiliates. To the extent you are receiving investment advice from a separately registered independent investment advisor that is not an LPL affiliate, please note LPL makes no representation with respect to such entity.
- Not Insured by FDIC/NCUA or Any Other Government Agency
- Not Bank/Credit Union Guaranteed
- Not Bank/Credit Union Deposits or Obligations
- May Lose Value
For Public Use – Tracking # 1-950517