DAILY INSIGHTS
Tech weakness weighing on US markets early. The S&P 500 Index opened lower after the long holiday weekend as concerns about valuations and a shift in sentiment continued to weigh on some tech-oriented names. Similar concerns sent most major European indexes lower at midday, while most major Asian indexes were higher overnight. Continue reading
This week in the LPL Market Signals podcast, LPL Financial’s Chief Market Strategist Ryan Detrick and Equity Strategist Jeff Buchbinder discuss the impacts of a potential President Trump second term.
Market Blog
Index Performance
S&P 500 Index: -2.3%
Dow Jones Industrial Average: -1.8%
Nasdaq Composite: -3.3%
Economic Blog
The jobs market remains strong, as the August nonfarm payrolls came in at a solid 1.37 million jobs created, right in line with expectations. This was the fourth consecutive month of gains, up 10.6 million over this time frame. In March and April more than 22 million jobs were lost, so we still aren’t quite to half of the jobs recovered though. Continue reading
DAILY INSIGHTS
The day after. Stocks opened mixed after today’s report of 1.4 million jobs created (more on this below). Following one of the worst performing days in months on Thursday, conversation swirls around whether this is finally the well-deserved pullback after a 60% rally for the S&P 500 Index. Continue reading
Economic Blog
The outbreak of COVID-19 caused considerable deterioration in the economy and left many wondering when we might expect conditions to improve. As historic stimulus measures were implemented to backstop the economy from outright collapse, many also wondered if this would be enough to restore sentiment to a level where economic activity would follow. We are now seeing the first stages of improving sentiment based on the results of the most recent Federal Reserve (Fed) Beige Book. Continue reading
DAILY INSIGHTS
Stocks opened lower. The S&P 500 Index opened lower this morning after a strong start to September, historically a seasonally weak month. Better than expected jobless claims were released this morning, and the much-anticipated monthly jobs report will be released Friday, while Institute for Supply Management (ISM) services data will garner some attention. Asian markets closed mixed with Japan up and China and Hong Kong down. European markets rose after France introduced a stimulus package and German purchasing managers’ data exceeded forecasts. Continue reading
Market Blog
The S&P 500 Index just closed the door on its best August since 1986, making new all-time highs along the way, while also closing up five months in a row. Continue reading
DAILY INSIGHTS
Markets Continuing Run Higher. US stocks opened higher after another solid performance and round of new highs Tuesday. Growth once again outperformed value, but the story of the day was an upside surprise in August US manufacturing numbers (more below). Today is a quiet news day, with many looking ahead to the monthly jobs report on Friday as the next major driver. Asian markets finished mixed but mostly higher, with European markets up significantly during midday trading. Continue reading
Economic Blog
Federal Reserve (Fed) Chair Jerome Powell gave a significant speech at the annual central bank symposium at Jackson Hole last week in which he laid out the general conclusions of the Fed’s review of its Statement on Longer-Run Goals and Monetary Policy Strategy. That document outlines how the Fed goes about fulfilling its congressionally assigned mandate of stable prices and maximum sustainable employment. The short version of the outcome: The Fed will let inflation run a little hotter than it might have in the past and short-term rates, at least, will be lower for longer. Continue reading