Market Update: Fri, May 29, 2020 | LPL Financial Research


LPL Research on Yahoo! Finance. LPL Financial Senior Market Strategist Ryan Detrick joined Yahoo! Finance Thursday to discuss the current trends and events impacting markets around the globe. Watch the full interview.

Stocks open lower. US equities opened lower following weakness in Europe and mixed-to-lower markets in Asia. Today, the White House is set to announce action against China for its role in limiting Hong Kong’s freedoms. Potential impacts may include suspending Hong Kong’s preferential tariff rates. This would add to quickly escalating tensions between the two countries, as many wonder how China will retaliate.

Strong breadth surge. Technology and growth stocks have been the strongest year to date, but that doesn’t mean the recovery has been limited. More than 96% of the S&P 500 Index components are now above their respective 50-day moving averages. We explore what this may mean for future stock returns later today on the LPL Research blog.


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