Friday, February 12, 2021
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.
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.
- 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.
- 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!
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