DAILY INSIGHTS
Major averages open mixed. US stocks are trying to build on Monday’s solid performance in which the major indexes hit all-time highs. Market participants are reacting positively to COVID-19 treatment and vaccine progress, while the United States and China reaffirmed their commitment to the phase-one trade deal. With the exception of Hong Kong and China, Asian markets finished higher. European markets were in the green during midday trading. Continue reading
DAILY INSIGHTS
The more things change, the more they stay the same. The S&P 500 Index and Nasdaq both closed at new all-time highs on Friday, but tech had another great week, up more than 3%. For the week, tech, communications, and consumer discretionary all gained more than 1.5%, while energy and financials both fell significantly, 5.6% and 3.5% respectively. Every FAANG stock (Facebook, Amazon, Apple, Netflix, and Alphabet) gained more than 2% on the week, with Apple (AAPL) becoming the first company to ever crack the $2 trillion market cap. Large cap growth gained more than 3%, while small cap value lost more than 3%. If this all sounds familiar it is because it has been happening all year. The high flying growth areas continue to benefit from the current environment, while value has struggled. We maintain a growth tilt and expect this outperformance to continue the rest of 2020. Continue reading
Market Blog
Index Performance
S&P 500 Index: .7%
Dow Jones Industrial Average: 0%
Nasdaq Composite: 2.7%
Market Blog
We are in the home strech of the US election season, with stocks potentially suggesting a President Trump victory, while the economy is on the side of Joe Biden. Although the next President is very important, maybe even more important is for more voices to be heard. Continue reading
DAILY INSIGHTS
Ending the week mixed. US markets opened relatively flat to end the week and news is quite light today. Former Vice President Joe Biden accepted the Democratic nomination for president Thursday night, wrapping up the first- ever virtual convention. European markets are trading mixed after disappointing manufacturing and services Purchasing Managers’ Index (PMI) data. Asian markets were mostly higher overnight, even though the United States hasn’t confirmed plans to meet with China to discuss the Phase 1 trade deal (contrary to earlier reports). Continue reading
Market Blog
This week in the LPL Market Signals podcast, LPL Financial’s Chief Market Strategist Ryan Detrick and Equity Strategist Jeff Buchbinder discuss if the recession is over already. “Much of the recent economic data indeed would suggest the recession is over, or on life support,” according to Ryan. Continue reading
DAILY INSIGHTS
US Stocks opened slightly lower. The modest selling pressure that followed the somewhat downbeat economic commentary from Wednesday’s Federal Reserve (Fed) meeting minutes has carried over this morning. Futures pared losses overnight on reports that US and China trade officials have agreed to meet in the coming days, but an increase in jobless claims dampened sentiment ahead of the open. Asian markets were lower overnight with China, Hong Kong, and Japan markets down at least 1%. European equities are down more than 1% in midday trading. Continue reading
DAILY INSIGHTS
The day after. US market equities opened mixed this morning in the wake of the S&P 500 Index reaching an all- time high since COVID-19’s onset. Improving COVID-19 and housing numbers along with a potential compromise in stimulus talks appear to be influencing investors. Asian markets showed mixed results, while European markets are mostly higher during midday trading. Continue reading
Market Blog
“Better late than never.”
It took a while, but the S&P 500 Index finally made a new all-time high, coming all the way back from the vicious 34% bear market in less than six months. Continue reading
Market Blog
As the COVID-19-related economic weakness that characterized the first half of the year subsides, growth has begun to return as trillions in fiscal stimulus have helped to stabilize consumer spending. Against a backdrop of improving labor market conditions and retail sales, inflation expectations have been on the rise after plummeting in March. Continue reading