The recent news that technology giant Apple would miss its fourth quarter 2020 revenue targets has understandably increased investor anxiety surrounding the potential economic impact of the coronavirus (now called COVID-19). Lost in those headlines is corporate America’s impressive performance this earnings season. Continue reading
Coronavirus slows, travel restrictions ease. Futures are green around the globe this morning as the number of new coronavirus cases fell to the lowest daily increase since January 29 and the Chinese government stepped up its fiscal and monetary stimulus response. The number of new cases in mainland China (excluding Hubei) has now fallen for 15 straight days. Continue reading
We hope everyone had a nice Presidents’ Day yesterday, and by nice we hope you got the day off work!
In honor of George Washington, starting in 1971, the third Monday in February was originally celebrated as a Federal holiday to honor our country’s first president, but over time the day has changed to honor all the US presidents. Continue reading
Stock markets modestly lower after renewed coronavirus concern. Apple’s announcement that the coronavirus would impact sales had international markets striking a cautious tone overnight, with the technology sector getting much of the attention. The MSCI Asia Pacific was down just over 1%, while major European indexes and S&P 500 Index futures have posted smaller losses. Continue reading
We continue to receive many questions about stock and economic performance during election years, which we’ve tackled in our recent blogs, “Another Look at Election Years” and ”A Closer Look at Election Years.” Continue reading
Equities grind higher. The S&P 500 Index is tracking toward another weekly gain, following last week’s more than 3% advance. We see technical support for the S&P 500 at the 50-day moving average (about 4% below current levels) as well as the 3030 level, but the technicals of other key markets need watching as well. Continue reading
Consumer inflationary pressures grew at a moderate rate in January 2020.
The core Consumer Price Index (CPI), which excludes food and energy, rose 2.3% year over year last month, near the fastest pace of this economic cycle and in line with recent months. As shown in the LPL Chart of the Day, core CPI growth has been steady, thanks to firm U.S. demand and relatively benign producer price and wage growth. Continue reading
Stocks fall after jump in coronavirus cases. China’s Hubei province where the virus outbreak originated reported 15,000 new cases overnight after revising its diagnostic method for reporting data to include “clinically diagnosed” cases — a quicker method that casts a wider net. Continue reading
A late month selloff in January saw the S&P 500 Index close marginally lower for the month. But stocks have taken off in February, with the S&P 500 up nearly 4% this month, as US economic data remains strong and fears over the worst-case scenarios for the coronavirus appear overblown. Continue reading
Lowest number of new coronavirus reported. Futures are higher this morning, as on Wednesday China reported the lowest number of coronavirus cases since late January. Most scientists still expect the outbreak to peak sometime this month. Continue reading