Daily Insights
Markets react to COVID-19 increases and stimulus gridlock. Value groups dragged on the market, while technology stocks continued their run amid stimulus deal talks, helping lift the Nasdaq Tuesday.
- US stocks opened lower today on increasing COVID-19 trends.
- European stocks are down. Germany and France are considering new lockdowns to stem surging COVID-19 spread.
- Asian markets finished mostly lower.
Vaccine pre-orders. The United States will pay Eli Lilly $375 million for its experimental antibody treatment. Sanofi and GlaxoSmithKline will make 200 million doses of their experimental vaccine available.
Election 2020. With 6 days remaining until Election Day, early voting participation continues to grow, with over 71 million Americans having cast their votes as of October 27. Nationally, over 51% of the total voter turnout in 2016 has already been submitted. Texas currently leads the way, where voters have submitted over 86% of its 2016 total votes (source: US Election Project).
COVID-19 news. New daily US COVID-19 cases rose 4% compared with the prior week, while the seven-day average, at over 70,000, is 18.5% above week-ago levels—the 19th straight day of double-digit increases (source: COVID Tracking Project).
- Hospitalizations are steadily rising but have lagged new cases up to this point because patients are skewing younger.
- Chicago halted indoor dining.
- France may impose a one-month national lockdown.
- Germany may close bars and restaurants and ban travel.
LPL Research in the Media
Chief Market Strategist Ryan Detrick was featured in a Fox Business article on Yahoo! Finance.
Read Stocks Historically Win in this Election Scenario
https://finance.yahoo.com/news/stocks-typically-better-president-wins-122315592.html
LPL Research Equity Strategist Jeff Buchbinder was quoted in the Barron’s online article, “Tech Stock Valuations Look Increasingly Stretched.”
Read Small-Cap Earnings Momentum
https://www.barrons.com/articles/tech-sector-valuations-are-cause-for-concern-51603495536
LPL Research and a recent S&P 500 chart were featured on MarketWatch.
Look for The Best Day of the Year
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