Market Update: Tue, Jul 28, 2020 | LPL Financial Research

DAILY INSIGHTS

S&P 500 slightly lower with stimulus, virus in focus. The S&P 500 Index is slightly lower early today as market participants continue to assess stimulus progress, COVID-19 case growth, and earnings. The S&P 500 climbed 0.7% Monday as Republicans prepared to present their version of the next stimulus bill, while COVID-19 case growth appeared to be leveling off. Most major Asian indexes were higher overnight, helped by a weaker dollar. Most major European indexes are down slightly at midday. Continue reading

Market Update: Mon, Jul 27, 2020 | LPL Financial Research

DAILY INSIGHTS

Stocks opened higher. After ending last week on a down note and seeing its three-week win streak snapped, the S&P 500 Index is in the green in early trading this morning. Markets are awaiting the release of the Senate’s stimulus plan—expected in the $1 trillion range—and the start of a big earnings week. Asian markets were mixed overnight, with modest gains in China and Australia, and slight losses in Japan and Hong Kong. European markets are slightly lower in midday trading. Gold rose 2% to a record high of more than $1,940 per ounce, and silver rose 6%. Continue reading

Market Update: Fri, Jul 24, 2020 | LPL Financial Research

DAILY INSIGHTS

Down again. US stocks opened lower following Thursday’s broad weakness. Caution is in the air, as China retaliated by shutting down the US consulate in Chengdu. Asian markets were down significantly on the news. European markets are firmly in the red, even though the Eurozone flash manufacturing Purchasing Managers’ Index (PMI) surprised to the upside. The composite reading reached its best levels since February, yet another sign of global economic improvement. Continue reading

Dollar Weakness May Continue

Economic Blog

The US dollar was remarkably strong during the first quarter of 2020, benefitting from the flight to safety and rallying to nearly a 10% year-to-date gain at the stock market’s low point on March 23. However, as equity markets have recovered, and the US has continued to fight the COVID-19 pandemic, the dollar has given up nearly all of those gains. Continue reading

Market Update: Thur, Jul 23, 2020 | LPL Financial Research

DAILY INSIGHTS

Stocks opened little changed. The S&P 500 Index is trying for its sixth straight positive session as mostly well-received earnings results and optimism that the next big stimulus package out of Washington, DC, will soon be secured are offset by rising weekly jobless claims. Asian markets closed mixed, with gains in Hong Kong’s Hang Seng and a modest loss in China’s Shanghai Composite amid escalating US-China tensions. Trading in Japan was closed for a holiday. European markets are largely flat. Continue reading

Market Update: Wed, Jul 22, 2020 | LPL Financial Research

DAILY INSIGHTS

Mixed markets. US stocks opened mixed, as Tuesday the S&P 500 Index moved to its highest level since February. Caution is in the air as the United States ordered China to close its consulate in Houston, fueling potential retaliation. Europe is firmly in the red the day after passing the 750 billion euro COVID-19 recovery plan on Tuesday. Earnings season is in full swing, with many big names set to report over the coming days. Continue reading