Weekly Market Drivers | LPL Financial Research

Nasdaq, Dow Win Streaks Reach Double-Digits Amid Spat of Geopolitics

US: S&P 500 Index +0.4%, Dow -0.0%, Nasdaq +0.9%
Europe: STOXX Europe 600 +0.8%, German DAX +1.3% France CAC 40 +1.0%, U.K. FTSE 100 -1.5%
Asia: Japan Nikkei +0.8%, China Shanghai Composite +6.8%, Korea KOSPI +0.0%
Rates/Commodities: 10-Year Treasury yield +11 basis points to 2.76%, WTI crude oil +0.4%, COMEX gold: -1.1%

A series of geopolitical events and top-tier economic data kept U.S. stocks in a narrow trading range this week, while overseas indexes were more of a mixed bag. Continue reading

March Higher?

“March comes in like a lion, and goes out like a lamb.”

What a start to 2019, with the S&P 500 Index up 11.1% after the first two months of 2019 for its best start to a year since 1991. Although we continue to expect the next 10% gain to be quite tough, the good news is that we think new highs could happen later this year and maintain our fair-value target of 3,000 on the S&P 500 Index for 2019.

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Consumer, Business Spending Propel Solid GDP Growth

After a month-long delay, investors finally have crucial context on economic growth through the end of 2018.

As shown in the LPL Chart of the Day, fourth quarter gross domestic product (GDP) grew 2.6% from the prior quarter, higher than consensus estimates for a 2.2% gain. GDP grew 2.9% overall in 2018 and 3.1% year over year for the fourth quarter.

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Market Update: Thurs, Feb 28, 2019 | LPL Financial Research

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Daily Insights

China, Japan feeling the effects of U.S.-imposed tariffs. In China, official Purchasing Managers’ Index (PMI) data showed manufacturing factory activity hit a three-year low as new export orders shrank for a ninth straight month. However, total new orders moved back into expansionary territory, suggesting future activity may rebound. J Continue reading