DAILY INSIGHTS
Stocks steady heading into weekend. US stocks are near flat in early trading, as investors continue to digest earnings, including a poorly received report from Netflix, which is down nearly 10%. Major US indexes are tracking toward modest gains for the week, with the exception of the Nasdaq, which held a 1.4% loss through Thursday’s close. European shares were mixed late in trading. Most Asian markets were higher, with the Nikkei’s 0.3% loss the outlier.
Retail sales beat expectations again. Thursday’s US Census Bureau report showed June retail sales beating consensus expectations, rising 7.5% from the month prior on a seasonally adjusted basis. We explore what drove the increase and whether it can continue later today on the LPL Research blog.
Midyear Outlook 2020 is here. LPL Research’s Midyear Outlook 2020: The Trail to Recovery reviews where we’ve been in 2020, where we may be heading, and the path that will take us there. Our special elections section explains how stocks and the economy may predict the next president. Find supporting marketing material on the Resource Center, including a PDF, printer-friendly version, client letters, Social Sharing Guide, and Executive Summary. Printed brochures can be ordered now in Marketing On Demand to ship August 1.
COVID-19 news. A record 77,300 new cases were reported in the United States Thursday, according to Johns Hopkins, bringing total US cases near 3.6 million. New hospitalizations continue to trend lower, while fatalities appear to have stabilized after the downtrend leveled off in recent weeks. India’s case total passed one million, trailing only Brazil and the United States. Talks for a fifth COVID-19 relief package are heating up, and we expect something in the $1 trillion range next month.
IMPORTANT DISCLOSURES
This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change.
References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.
Any 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 information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.
All index and market data are from FactSet and MarketWatch.
This Research material was 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 1-05034283