Thursday, August 5, 2021
This week kicked off LPL Focus! Focus is LPL Financial’s biggest annual event. More than 10,000 people will attend virtually this year and this week in the LPL Market Signals podcast Jeff Buchbinder, Ryan Detrick, and Marc Zabicki discuss the upcoming conference, while focusing on stocks and the economy.
This is Marc’s first Focus, Ryan’s sixth, and Jeff is up to 15! All three are looking forward to chatting with our Advisors and helping them help their clients. Ryan is especially excited about hearing from Coach K, which is definitely going to be a huge highlight of the week. All in all, to pull off Focus takes an army of dedicated people and we are so excited to get out there and hang out with our Advisors.
Jeff discussed that earnings have blown away expectations again in the second quarter and will end up breaking more records. S&P 500 earnings are tracking to an 87% year-over-year increase, about 23 percentage points above the consensus estimate when earnings season began with record-high percentages of companies beating revenue and earnings expectations. Just as impressive, forward estimates have moved higher during earnings season, suggesting corporate America’s strong momentum is likely to continue. With stocks at all-time highs, we continue to think the strong earnings are helping to justify stocks at current levels.
Marc finished up the discussion by taking a look at some recent economic data, which is still extremely strong, but could be showing some signs of peaking. Remember, peaking doesn’t mean the ride is over, as we continue to expect a strong economy the rest of this year.
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