What It’s Like To Go on CNBC I Daily Market Update

Friday, May 14, 2021

Top Story

What It’s Like To Go on CNBC

LPL Research Chief Market Strategist Ryan Detrick takes us on a behind-the-scenes look at what it is like to be featured on CNBC.

Watch Street View video 

Daily Insights

U.S. equities attempt to reverse course

  • Market participants take advantage of oversold conditions in an attempt to recover from lows earlier this week.
  • The Nasdaq Composite is approximately 1% higher as some investors continue to believe in growth over value.
  • European markets follow their U.S. counterparts as the Euro Stoxx 50 is higher through midday trading.
  • Asian markets appreciated with Japan’s Nikkei reversing course, finishing up over 2%.
  • China has been a standout this week as this market gained more than 1.5% during its last session.

April retail sales flat after stimulus-fueled strength in March

  • Retail sales missed the consensus expectation of a 1.0% gain in April after its large beat in March.
  • Auto sales, which increased by almost 3%, were a positive.
  • The retail sales miss should dampen concerns about the economy overheating.

Five charts we are watching

There are many moving pieces to today’s markets—seasonality, the Presidential cycle, copper and more. We take a closer look at different market segments later today on the today’s LPL Research blog, available at 12p.m. ET.

Technical update

The S&P 500 bounced off the 50-day moving average yesterday, gaining 1.2% along the way. Industrials and financials were the best performing sectors as cyclical value continues to exhibit relative strength. On the Nasdaq Composite, watch the 100-day moving average (13,431) as previous support may act as resistance.

Amazing Earnings Season: LPL Research Reacts

LPL Research raises its year-end S&P 500 Index fair value target range again in the wake of a stunning Q1 2021 earnings season.

Read Weekly Market Commentary

A Record Breaking Earnings Season

On the LPL Market Signals podcast, Chief Market Strategist Ryan Detrick and Equity Strategist Jeff Buchbinder discuss the incredible earnings season, debate whether we’ve hit a peak in earnings and economic growth, and economic policies.

Watch Market Signals podcast



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