Tune Out The Noise | Daily Market Update

Posted by

Friday, February 12, 2021

Top Story

Looking for reasons to sell? There have been countless stock market headlines over the past 10 years that may cause investors to lose track of their long-term investment goals. With the growing concern these days that markets may have gone too far too fast, we take a look at some of the media distractions that may not prove useful to long-term investors in today’s LPL Research blog.

Daily Insights

US stocks open modestly lower before the holiday weekend

  • European markets are little changed in midday trading; Germany is the laggard.
  • Most Asian markets remain closed for the Lunar New Year holiday.

February 15, 2021: LPL Financial and the stock and bond markets will be closed February 15. Normal business hours will resume on Tuesday, February 16.

Technical update

  • Markets are ending a quiet week on a quiet note.
  • The S&P 500’s2% intraday range on Wednesday accounted for the upper and lower bands of the entire week’s trade through Thursday.
  • Sentiment has followed last week’s upward action though, as Lipper reported equity ETFs saw inflows of $26.3B, the second largest on record for the week ending February 10.

COVID-19 news

  • The United States reported 103,000 new COVID-19 cases on Thursday, the first day above 100,000 new cases since February 6, 2021 (source: COVID Tracking Project).
  • Despite the slight uptick in overall new cases, the streak of consecutive double-digit week-over-week declines remains intact.
  • The bulk of attention remains on the new B117, a more-infectious variant of the virus.
  • Over 159 million vaccine doses have been administered worldwide.
  • Japan approved the use of the Pfizer/BioNtech vaccine, their first COVID-19 vaccine approval.

 LPL Research in the Media

LPL Research joined Squawk Box. LPL Financial Chief Market Strategist Ryan Detrick joined Joe Kernan this morning on CNBC Squawk Box to talk about what the strong start to February could mean going forward.

Street View video: Three Types of Lies

LPL Financial Research Chief Market Strategist Ryan Detrick illustrates how you can take any data and tell any story you want, but when you want to invest, you want to know what really matters. Watch the new Market Signals Podcast!

 

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- 05111105