Market Update: Mon, Sept 21, 2020 | LPL Financial Research

Daily Insights

Pullback continues. Stocks opened lower this morning as the S&P 500 Index attempts to break its three-week losing streak that has left it more than 7% below its September 2 high. Political uncertainty following Justice Ruth Bader Ginsberg’s death has ratcheted higher and may be adding volatility on top of existing concerns about COVID-19, stimulus, US-China tensions, and tech stock valuations. European stocks were solidly lower, led down by banks. Hong Kong’s 2% loss paced broad losses in Asian markets overnight. Continue reading

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