Market Update: Thu, Sept 17, 2020 | LPL Financial Research

Daily Insights

Stocks opened lower. The late-session selling after the Federal Reserve (Fed) announcement Wednesday is spilling over this morning. Markets got a dovish Fed but seemed to want more, which is dampening enthusiasm for traders. Global markets are broadly lower with losses in Europe in midday trading. Asian markets closed broadly lower, with particular weakness in Hong Kong. Continue reading

Retails Sales Shifting to Slower Growth

Economic Blog

Retail sales rose 0.6% month over month in August following July’s downwardly revised 0.9% advance, but sales fell short of Bloomberg’s consensus expectation for a 1% increase. The retail sales control group, which excludes building materials, autos, and gas,  fell 0.1% month over month and also missed estimates (source: US Census Bureau). Continue reading

Market Update: Wed, Sept 16, 2020 | LPL Financial Research

Daily Insights

Markets opened higher. US equities have continued their recent strength this week on the heels of the first two-week losing streak in nearly five months. Today the big news is the Federal Reserve (Fed) meeting, as all eyes will be focused on future policy (more below). Japan finished higher, while China and Hong Kong ended slightly lower. European markets are mixed through midday trading. Continue reading

Market Update: Tue, Sept 15, 2020 | LPL Financial Research

Daily Insights

Global stocks look to rally. Most major Asian indexes were higher overnight following strong data on Chinese industrial activity and retail sales, although Japan’s Nikkei lagged. The Euro Stoxx 600 is higher at midday. The S&P 500 Index opened higher, extending Monday’s rally and benefiting from the positive international tone. The S&P 500 gained 1.3% Monday while the small cap Russell 2000 Index climbed more than 2.5% as merger activity, vaccine news, and a shift in sentiment after two weeks of consolidation helped propel gains. Continue reading

Market Update: Mon, Sept 14, 2020 | LPL Financial Research

Daily Insights

Stocks opened solidly higher. Stocks are getting back a chunk of last week’s losses this morning, led by technology and boosted by vaccine optimism. It’s “Merger Monday” with large deals announced in the semiconductor and biotech industries, along with the news that Oracle appears to have won the TikTok sweepstakes. European markets are mixed in midday trading, while Asian markets closed broadly higher. Continue reading