Street View: A Paparazzi View Of PPP

Market Blog

The Paycheck Protection Program (PPP) is in the news again, as the list of the small businesses who received loans and for how much, is officially in hands of the public. Nearly 5 million small businesses took more than $650 billion in loans as of the end of June, used a lifeline to keep things going during the slowdown. The problem though is some of the loans made were quite questionable at best, upsetting many on Main Street why those who didn’t need a loan got it. Continue reading

Market Update: Fri, Jul 10, 2020 | LPL Financial Research

DAILY INSIGHTS

Tech continues to pull the market higher. US stocks opened little changed a day after more new highs for the Nasdaq and tech, while other pockets of the market weakened. Stocks reversed earlier losses in pre-market trading after Gilead reported some good news on its COVID-19 treatment. China finally had a red day, as the Shanghai Composite fell nearly 2%, ending an eight-day win streak. Asia was mostly lower overnight, while Europe is firmly higher on a very quiet news day. Continue reading

Market Update: Thurs, Jul 9, 2020 | LPL Financial Research

DAILY INSIGHTS

US stocks opened slightly higher. US stocks are adding to Wednesday’s gains this morning, led by technology and following more strong gains in China. The Shanghai Composite rose 1.4% overnight to register its eighth-straight positive session. European markets are higher, with Germany getting a boost from well-received earnings from software giant SAP. Continue reading

Taking Stock at the Halfway Mark

Markets Blog

It’s certainly been a wild ride for stocks in 2020. Barely past the halfway point, the year has already brought the worst pandemic to hit the US in over 100 years, an unprecedented government-induced recession as much of the country was locked down, some stomach-churning market volatility, and massive, unprecedented stimulus from policymakers totaling several trillion dollars—that’s trillion with a “t”. Continue reading

Market Update: Wed, Jul 8, 2020 | LPL Financial Research

DAILY INSIGHTS

The win streak is over. US stocks opened modestly higher after the S&P 500 Index’s five-day win streak was snapped Tuesday. It is a very quiet day, with the usual concerns over COVID-19 cases and potential impact, along with discussions on challenges to the widely expected stimulus bill. Overnight, China continued recent outperformance, while Europe is down slightly. Continue reading

Market Update: Tues, Jul 7, 2020 | LPL Financial Research

DAILY INSIGHTS

S&P 500 Index opens lower as economic uncertainty persists. After rallying to start the week following a strong services sector reading on Monday, US stocks are following global equities lower Tuesday morning. Most major Asian indexes fell overnight, although Chinese shares extended recent gains, while European shares were broadly lower. A global pickup in COVID-19 cases is raising new concerns about the pace of the economic recovery. Continue reading

Labor Market Continues Its Momentum

Economic Blog

Following the massive beat in May nonfarm payrolls, many wondered if last month’s job gains pulled forward hiring ahead of the expiration of the Paycheck Protection Program to ensure small business loans were forgivable. Recall that the US labor market added 2.5 million jobs in May (revised up to 2.7 million in the June report) versus Bloomberg consensus expectations for a loss of 7.5 million jobs. Continue reading