Market Update: Wed, Oct 28, 2020 | LPL Financial Research

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

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

LPL Research and a recent S&P 500 chart were featured on MarketWatch.

Look for The Best Day of the Year



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 1-05072433