Weekly Market Commentary | Diversified Financial Consultants, LLC

Inflation And What the Fed Is Saying | Weekly Market Commentary | June 21,2021

Inflation seems to be on the rise, but LPL Research believes there are good reasons to think it will be transitory.

Sustainable Investing and Fixed Income | Weekly Market Commentary | June 14,2021

Sustainable investing is becoming more mainstream in fixed income markets and companies that recognize that changing dynamic may be able to avoid financially material impacts.

Global Portfolio Strategy | June 9, 2021

We expect stocks to continue to grow into their valuations on the back of tremendous earnings momentum as the economy fully reopens, vaccine distribution continues, COVID-19 cases plummet in the United States, and stimulus spending continues to work its way through the economy.

Policy Shifts May Challenge Market | Weekly Market Commentary | June 7,2021

Fiscal stimulus, which was central to the market rebound in the last year, may start moving to the sidelines over the rest of 2021 and into 2022 as the recovery continues.

Proceed With Caution in The Bond Market | Weekly Market Commentary | June 1,2021

Interest rates have moved off their very low levels to start the year, but we think they can go higher.

Stock Market Gains Likely To Slow | Weekly Market Commentary | May 24, 2021

As this bull market gets a little older, the pace of stock market gains will likely slow, but a strong economic recovery lies ahead as the reopening continues.

Economy Picking Up Speed | Weekly Market Commentary | May 17, 2021

LPL Research explains why inflation is making headlines and why investors should not be overly concerned.

Global Portfolio Strategy | May 11, 2021

First quarter earnings season was truly remarkable and we lifted our earnings forecasts and our year-end S&P 500 Index fair value target range.

Amazing Earnings Season | Weekly Market Commentary | May 10, 2021

LPL Research raises its year-end S&P 500 Index fair value target range again in the wake of a stunning Q1 2021 earnings season.

Client Letter | Out of the Shadows | May 6, 2021

Progress against the virus combined with historic stimulus measures have helped the U.S. economy storm back from pandemic lockdown-driven lows.

Time To Sell In May? | Weekly Market Commentary | May 3, 2021

LPL Research notes some possible reasons for a pause in the rally and why any potential pullbacks won’t last very long.

Is All The Good News Priced In? | Weekly Market Commentary | April 26, 2021

LPL Research believes investors are appropriately optimistic, given the improving economy, the pace of vaccinations, fiscal stimulus, and surging earnings.

Peak Optimism? | Weekly Market Commentary | April 19, 2021

While optimism surrounding the reopening is certainly understandable, LPL Research takes a look to see if sentiment is flashing a near-term contrarian warning sign for stocks.

The Earnings Boom Is Here | Weekly Market Commentary | April 12, 2021

The outstanding fourth-quarter earnings season we had in 2020 is a tough act to follow, but 2021’s first quarter has the makings of another potentially great earnings season.

Global Portfolio Strategy | April 9, 2021

We have increased our forecast for U.S. gross domestic product (GDP) due to prospects for a full reopening of the U.S. economy, massive stimulus, and Federal Reserve (Fed) support.

Raising Forecasts…Again | Weekly Market Commentary | April 5, 2021

LPL Research revises previous forecasts to better reflect the growing optimism of an economy on the rebound.

Client Letter | Spring Into A Positive Outlook | April 1, 2021

Developments in the economy and the fight against the virus are likely to provide the ingredients for a positive outlook through the remainder of the year.

The Brink of an Inflation Crisis? | Weekly Market Commentary | March 29, 2021

LPL Research explains why any upticks in inflation will ultimately prove transitory.

Second Year Of The Bull Market Begins | Weekly Market Commentary | March 22, 2021

LPL Research discusses the end of the bear market and the trends of a bull market in year two.

March Madness: Stock Market Edition | Weekly Market Commentary | March 15, 2021

LPL Research share their “Final Four Factors” for the stock market in 2021.

Global Portfolio Strategy | March 9, 2021

We favor stocks over bonds based on expectations for economic growth, a strong rebound in corporate profits, and increased COVID-19 vaccine distribution.

Rising Rates and Market Performance | Weekly Market Commentary | March 8, 2021

LPL Research discusses the impact rising rates may be having on stocks and how an improving growth outlook may be good for stock performance.

Client Letter | The Return of Normal is Approaching | March 4, 2021

The US economy may soon recover its lost output from 2020 and the backdrop for stocks remains favorable.

Here Comes The Earnings Boom | Weekly Market Commentary | March 1, 2021

LPL Research reviews an incredible earnings season and speculates on a potentially strong earnings rebound for 2021 and beyond.

Sustainable Investing Year In Review | Weekly Market Commentary | February 22, 2021

LPL Research reviews the increasing popularity of sustainable investing and how it can be a solid addition to any investor portfolio.

The Search for Income | Weekly Market Commentary | February 16, 2021

LPL Research considers some unique income ideas for diversifying investor portfolios & potentially reducing interest rate risk.

Global Portfolio Strategy | February 9, 2021

The resiliency of the US economy continues to exceed expectations, supporting our increased forecast for growth and corporate profits in 2021.

Raising GDP and Stock Market Forecasts | Weekly Market Commentary | February 8, 2021

The resiliency of the US economy continues to exceed expectations, supporting our increased forecast for growth and corporate profits in 2021.

Client Letter | Stay The Course | February 4, 2021

The US economy continues to make steady progress in its recovery despite any short-term volatility.

Markets Shrug Off Debt Levels | Weekly Market Commentary | February 1, 2021

US debt levels have soared during the pandemic, but the market is taking it in stride, staying focused on reopening the economy.

Small Caps Still Solid | Weekly Market Commentary | January 25, 2021

Small cap stocks have outperformed large cap stocks, suggesting the early stages of new economic cycle.

Earnings Recession is Likely Over | Weekly Market Commentary | January 19, 2021

Q4 2020 earnings season may be the last in this earnings recession, and earnings may start to grow in 2021.

Global Portfolio Strategy | January 12, 2021

We favor stocks over bonds based on expectations for a strong economic and earnings recovery in 2021.

Market Policy Projections for 2021 | Weekly Market Commentary | January 11, 2021

LPL Research explores policy changes affecting the stock markets in 2021, including taxes, regulation, and stimulus prospects.

Client Letter | 2021 Brings a Fresh Start | January 7, 2021

The US economy has made tremendous progress in its recovery and is poised to continue growing despite ongoing impacts from COVID-19.

10 Economic Lessons from 2020 | Weekly Market Commentary | January 4, 2021

LPL Research reviews 2020, the longest economic expansion and shortest recession on record, massive stimulus, low Treasury yields, and elections.

A New Economic Start in 2021 | Weekly Market Commentary | December 21, 2020

LPL Research looks at what’s in store for the economy, global GDP, and small businesses in 2021.

Stocks and Bonds Outlook for 2021 | Weekly Market Commentary | December 14, 2020

LPL Research’s insights and guidance on investing in stocks and bonds in 2021.

Global Portfolio Strategy | December 9, 2020

2021 forecasts call for gains for stocks and low returns for bonds.

Outlook 2021 | Powering Forward | December 8, 2020

Power forward with LPL Research's market insights on 2021 post-election policy, the economy, stocks, and bonds. Read Outlook 2021: Powering Forward.

A Positive Outlook for 2021 | Weekly Market Commentary | December 7, 2020

Take a look at what we can expect in the stock and bond markets, the economy, and a new post-election policy environment in 2021.

Client Letter | Outlook for 2021 | December 3, 2020

Looking forward to a new year with insights on 2021 stocks and bonds, the economy, and a post-election policy environment.

COVID-19 May Threaten the Recovery | Weekly Market Commentary | November 30, 2020

Increased COVID-19 cases do not appear to affect the stock market, but new restrictions may be impacting economic data.

Frothy Sentiment Rides Bullish Technicals | Weekly Market Commentary | November 23, 2020

The S&P 500 is up, and small caps have soared. Sentiment could be getting a little frothy as well, which may increase the odds of a pullback.

Q3 Results Brighten 2021 Picture | Weekly Market Commentary | November 16, 2020

Corporate earnings are beating expectations and stocks may be in a new bull market.

Global Portfolio Strategy | November 10, 2020

Stocks fell for the second straight month in October as Election Day approached and brought policy uncertainty that historically has driven volatility.

Market-Friendly Election Outcome | Weekly Market Commentary | November 9, 2020

Equity returns have been strongest under a split Congress. What we can expect under a Joe Biden administration.

Client Letter | Election Clarity for the Markets | November 9, 2020

What we can expect in the markets and economy under a Biden administration and split Congress.

Client Letter | Election 2020 Is Undecided | November 4, 2020

Choosing our next president may take longer this time, but temporary uncertainty at the polls should not slow our economic recovery.

Record GDP on the Eve of the Election|Weekly Market Commentary| November 02, 2020

GDP grew 33.1% annualized in the third quarter, the sharpest rebound in GDP since WWII.

Are the Polls Wrong Again?|Weekly Market Commentary|October 26, 2020

As the race for the White House enters the homestretch, some indicators suggest the election may be closer than polls are saying.

Market Insight Quarterly| Third Quarter 2020 | October 21, 2020

Stocks were lifted by the stronger-than-expected economic rebound, as fiscal and monetary stimulus continued to provide support.

Three Reasons We Like Small Caps|Weekly Market Commentary|October 19, 2020

Markets have come a long way since the March lows, and LPL Research sees further gains ahead for stocks, especially small cap stocks.

Earnings Growth is Approaching|Weekly Market Commentary|October 12, 2020

This earnings season, corporate America will get closer to the return of earnings growth—which is likely in the first quarter of 2021.

Global Portfolio Strategy | October 9, 2020

A global review of September performance and a look forward, with a focus on potential impacts from the election and another stimulus package.

Market Responses to Election Uncertainty|Weekly Market Commentary|October 5, 2020

LPL Financial Research reviews how markets may respond to three potential scenarios if the presidential election is delayed or disputed.

Client Letter | Signs of Strength in the Economy | October 1, 2020

Signs of market and economic strength tell us that better times likely are coming in 2021.

What Technology's Correction Means | Weekly Market Commentary | September 28, 2020

Despite weakness in the technology sector that has dragged the broader market lower, we expect leadership to continue given supportive underlying fundamental and technical conditions.

Central Bank Season | Weekly Market Commentary | September 21, 2020

Central bank policies remain focused on economic recovery, with an eye on COVID-19 developments.

The Bull Case for Stocks | Weekly Market Commentary | September 14, 2020

Stocks have been on a wild ride in September so far. Where will they go from there?

Global Portfolio Strategy | September 11, 2020

Stocks continued their positive momentum with strong gains in August before volatility returned in early September.

Client Letter | Back to School in a New Way | September 3, 2020

Going back to school signals changes for everyone, including COVID-19 preparedness, an election, and impressive S&P 500 performance.

A Trump Second Term: Upside and Risks | Weekly Market Commentary | August 31, 2020

We continue to believe the election remains a coin toss.

A Biden Presidency: Upside and Risks | Weekly Market Commentary | August 24, 2020

Potential market impact if former VP Joe Biden is elected president, including taxes, regulation, initiatives, and governance.

5 Earnings Season Takeaways | Weekly Market Commentary | August 17, 2020

Corporate America delivered on expectations during a second quarter earnings season that some are calling the biggest upside surprise ever.

Global Portfolio Strategy | August 11, 2020

Stocks continued to rally in July despite elevated COVID-19 cases in many US states and globally.

Dissecting The Disconnect| Weekly Market Commentary | August 10, 2020

Markets are looking forward to better days ahead.

Client Letter | Positive Territory | August 6, 2020

The S&P 500 Index has moved into positive territory and some data appears good, while other data remains troubling.

Calendar Concerns and Gold Gains| Weekly Market Commentary | August 3, 2020

Stocks may be ready for a break, but it’s still possible gold and stocks could trend higher together.

Stalling Economic Recovery May Slow Stock Market Rally | Weekly Market Commentary | July 27, 2020

Stock market weakness late last week caused investors to ask whether the long-awaited market pullback may be at hand.

Market Insight Quarterly| Second Quarter 2020 | July 21, 2020

It was the best quarter in more than 20 years for stocks as the economy reopens.

An Earnings Season To Forget | Weekly Market Commentary | July 20, 2020

This earnings season may be unpredictable and forgettable, but it may not be all bad. We offer key themes to watch.

Digital Midyear Outlook 2020 | July 16, 2020

Investment insights and market guidance through year-end 2020, plus election 2020 predictions.

Client Letter | Midyear Outlook 2020 | July 14, 2020

Investment insights and market guidance through year-end 2020, plus election 2020 predictions.

Global Portfolio Strategy | July 10, 2020

Stocks continued their strong run in June, despite rising COVID-19 cases, and we upgraded our view of growth stocks.

Election Preview | Weekly Market Commentary | July 6, 2020

2020 is an election year, and as we get closer to November, we expect this to replace COVID-19 and the recession at the top of investors’ minds.

Client Letter | Fourth of July Optimism | June 30, 2020

Recent economic data has been better than expected, while a summer consolidation in the markets may be possible.

The Future of Fixed Income | Weekly Market Commentary | June 29, 2020

Although the US economic recovery has picked up and we expect yields to rise in the second half of 2020, structural forces may help limit the size of the move.

5 Reasons We Favor US Stocks | Weekly Market Commentary | June 22, 2020

LPL Research shares their latest thoughts on international equities and reiterate positive emerging markets view.

Potential Paths For Stocks In The Second Half | Weekly Market Commentary | June 15, 2020

Stock market valuations have gotten more expensive because earnings have fallen, which may bring volatility if the recovery disappoints.

Global Portfolio Strategy | June 9, 2020

Stocks rose for the seventh May in the past eight years.

Prospects for a Swoosh-Shaped Recovery | Weekly Market Commentary | June 8, 2020

LPL Research discusses whether the economic recovery may look more like a V-shape than a U, a square root, checkmark, or swoosh.

Client Letter | Looking Forward | June 4, 2020

The stock market is forward-looking, and what it's seeing now provides hope for better things to come.

Stocks Rally and Roll | Weekly Market Commentary | June 1, 2020

The rally continued as the S&P 500 Index closed out May on the positive side.

Earnings Season's Mixed Results| Weekly Market Commentary | May 26, 2020

First quarter earnings season offered something for everyone.

Client Letter | Better Times Are Coming | May 21, 2020

In spite of COVID-19 and weak economic data, the S & P 500 Index has rallied, and there are signs of improvement as the economy begins to reopen.

Downside Risk Remains| Weekly Market Commentary | May 18, 2020

Stocks may have been due for a pullback after gains in late March through April and could potentially have further to fall.

Global Portfolio Strategy | May 11, 2020

As May began, investors continued to try to reconcile the strong rebound in stocks with the devastating economic damage from COVID-19.

Time For A Pause? | Weekly Market Commentary | May 11, 2020

Stocks have had a historic run amid increasingly negative headlines.

Client Letter | To Go But Up | May 7, 2020

Signs of recovery and an economic rebound may be sparking the stock market to look ahead.

Big News And New Forecasts| Weekly Market Commentary | May 4, 2020

Stocks bounced early the week of April 27, but limped to the finish.

What Happened to Oil| Weekly Market Commentary | April 27, 2020

Negative oil prices have dominated headlines recently.

Stocks Slide As Oil Prices Drop | Weekly Market Performance | April 24, 2020

Stocks moved lower on the week as volatility in theoil patch dominated headlines.

Client Letter | How We Respond Matters, Revised | April 23, 2020

We've responded to COVID-19 with resolve and strength, and government and Federal Reserve responses have been unprecedented.

Client Letter | How We Respond Matters | April 21, 2020

We've responded to COVID-19 with resolve and strength, and government and Federal Reserve responses have been unprecedented.

Is the Earnings Bar Low Enough?| Weekly Market Commentary | April 20, 2020

As earnings season begins, LPL Financial Research believe there will be winners and some challenges, the bar may be set too low, and corporate guidance may outweigh forecasts.

Solid Gains| Weekly Market Performance | April 17, 2020

Stocks posted solid gains for the week, on the heels of the largest weekly gain for the S & P 500 Index since 1974.

Market Insight Quarterly| First Quarter 2020 | April 16, 2020

The longest-running bull market has come to an end.

A Recession is Here | Weekly Market Commentary | April 13, 2020

We are now in recession, but it’s a very unique recession, and it may be one of the shortest.

Global Portfolio Strategy | A Bridge to the Other Side | April 9, 2020

We continue to follow our Road to Recovery Playbook to determine where we are in the stock market’s bottoming process.

Bear Market Rally Takes A Pause |Weekly Market Performance| April 9, 2020

Stocks rallied strongly over the holiday-shortened week.

Client Letter | A Unique Economic Situation | April 8, 2020

The current economic climate is unique in its causes, possible duration, and challenges, but it may soon provide investment opportunities.

Market Bottoming Process Continues | Weekly Market Commentary | April 6, 2020

The war against the COVID-19 pandemic continues this week as the number of new cases and deaths continues to grow.

Bear Market Rally Takes A Pause |Weekly Market Performance| April 3, 2020

Stocks pulled back this week and were unable to add to historic gains from the previous week as the war against the COVID-19 pandemic wages on.

Client Letter | When It Rains Gold, Reach for A Bucket | April 2, 2020

The COVID-19 impact has been devastating, but as the economy positions to recover, it could offer opportunities for longer-term investors.

Road To Recovery Playbook Update | Weekly Market Commentary | March 30, 2020

Stocks soared last week, working off historically oversold levels.

Policy-Driven Rebound |Weekly Market Performance| March 27, 2020

Stocks rebounded sharply this week even as the COVID-19 pandemic continues to spread rapidly in the United States.

Client Letter | A Test of Our Resolve | March 24, 2020

The COVID-19 pandemic is a test of our resolve, but our optimism for the near-term future remains intact.

Key Week for the Bottoming Process | Weekly Market Commentary | March 23, 2020

We are likely in recession now, though we won’t know that for sure until more timely data is released.

Historic Volatility |Weekly Market Performance| March 20, 2020

Extreme volatility continued as the war against the coronavirus continues.

Client Letter | A Clear Vision of Financial Goals | March 18, 2020

Maintaining a clear vision of long-term financial goals is a key to making it through market and global uncertainty.

Road TO Recovery Playbook | Weekly Market Commentary | March 16, 2020

The global pandemic of COVID-19 has sent world equity markets into bear market territory.

Bull Market Comes to an End | Weekly Market Performance | March 13, 2020

The longest bull market ever ended this week as the COVID‐19 (coronavirus) outbreak continued to spread.

Client Letter | Managing Volatility | March 13, 2020

COVID-19 and the end of the bull market are the focus of our new letter.

Global Portfolio Strategy | March 10, 2020

The COVID-19 outbreak roiled markets over the past two weeks, putting the S&P 500 into correction territory and near a 20% bear market decline.

Client Letter | COVID-19 and Oil Prices | March 9, 2020

LPL Research addresses investors' concerns regarding continued COVID-19 news and plunging oil prices and looks ahead

The Bull Turns 11 | Weekly Market Commentary | March 9, 2020

As the coronavirus continues to scare global markets, it would be easy forget that the current bull market started 11 years ago today.

Wild Week | Weekly Market Performance | March 6, 2020

U.S. stocks ended the first week of March slightly higher, but the path to get there was extremely volatile.

Client Letter | March Markets Like A Lion | March 5, 2020

Increased cases of the coronavirus, a large market sell-off, and an unscheduled rate cut by the Federal Reserve roared into March markets.

Coronavirus Fears Intensify | Weekly Market Commentary | March 2, 2020

Stocks just suffered their worst week since the global financial crisis on coronavirus outbreak fears.

Coronavirus Correction | Weekly Market Performance | February 28, 2020

U.S. stocks suffered their worst weekly decline since the 2008–09 financial crisis as COVID-19 outbreak fears intensified and drove a wave of heavy selling.

Client Letter | Coronavirus Impact on Markets Continues | February 28, 2020

As the coronavirus spreads around the globe, markets have reacted with historic, but not unexpected, sell-offs.

Client Letter | Coronavirus Fears End The Calm | February 25, 2020

After several months of relative calm, the markets reacted to renewed fears from the coronavirus outbreak.

Corporate America Impresses | Weekly Market Commentary | February 24, 2020

Corporate America impressed us this earnings season. Companies have done an admirable job growing profits, considering several stiff headwinds that they've faced.

Stocks Fell As China Stayed In Focus| Weekly Market Performance | February 21, 2020

U.S. stocks fell during the holiday-shortened week as confirmed cases of cornoavirus continued to rise.

Productivity Bounces | Weekly Market Commentary | February 18, 2020

With the U.S.-China phase-one trade deal signed, the stage could be set for an economic rebound in 2020.

Resilience Amid Outbreak | Weekly Market Performance | February 14, 2020

U.S. stocks rose for the second straight week, setting more new record highs along with way, despite the threat of global economic distruption from the coronavirus outbreak.

Global Portfolio Strategy | February 11, 2020

January data reflected continued, moderate growth in the U.S. economy as it battled geopolitical uncertainty and a global health scare.

Global Gets Going | Weekly Market Commentary | February 10, 2020

We highlight four main reasons why international equities’ performance could be poised to improve.

Fundamentals Over Fears | Weekly Market Performance | February 7, 2020

U.S. stocks broke a two-week losing streak with their best weekly gain in eight months.

Client Letter | Bumps in the Road | February 6, 2020

Even with some bumps in the road, we expect the economic expansion to continue through 2020 and help power forward this bull market.

Assessing Coronavirus Outbreak | Weekly Market Commentary | February 3, 2020

After a three-and-a-half-month, largely uninterrupted rally in stocks, the period of calm ended last week as the coronavirus outbreak led to a bout of volatility.

Coronavirus Outbreak Intensifies | Weekly Market Performance | January 31, 2020

U.S. stocks fell for the second straight week, as the S & P 500 Index slid as the coronavirus outbreak spread repidly within China and fears of a global outbreak increased.

A Sentiment Check | Weekly Market Commentary | January 27, 2020

Wall Street has often called this the most hated bull market in history, and for good reason.

Stocks Pause On Viral Outbreak | Weekly Market Performance | January 24, 2020

U.S. stocks fell during the holiday-shortened week, with the S & P 500 notching its third weekly loss since October 2019.

Earnings Are All About 2020 | Weekly Market Commentary | January 20, 2020

Earnings growth was largely absent in 2019, but we expect it to pick up in 2020.

Stocks Rise On Trade, Earnings News | Weekly Market Performance | January 17, 2020

U.S. stocks rose again this week to fresh record highs, powering the S & P 500 Index to its 13th weekly gain out of the last 15 weeks.

Portfolio Compass | January 15, 2020

With stocks at our year-end fair value target, the magnitude of a potential stock market advance in 2020 may be limited.

Market Insight Quarterly | Fourth Quarter 2019

Third-quarter data showed the U.S. economy grew at an average pace for the economic expansion, with signs of weakening in manufacturing.

Assessing Geopolitical Risk | Weekly Market Commentary | January 13, 2020

We discuss what the conflict with the Middle East might mean for stocks and assess ongoing risks.

More Gains Despite Mideast Conflict | Weekly Market Performance | January 10, 2020

U.S. stocks weathered the Mideast conflict with the S & P 500 Index posting its 12th weekly gain out of the last 14 weeks.

Market Insight Monthly | December 31, 2019

The U.S. economy wrapped up 2019 with a batch of generally promising data as U.S-China trade tensions died down.

Lessons From The Past Decade | Weekly Market Commentary | January 6, 2020

2019 delivered a strong market performance, but we think additional market gains may be possible in 2020.

Closing The Books On 2019 | Weekly Market Performance | January 3, 2020

U.S. stocks ended a volatile, holiday-shortened week little changed, capping off a very strong 2019 in which the S & P 500 Index returned more than 31%.

Client Letter | 2019 2020 Gains on 2019 | January 6, 2020

2019 delivered a strong market performance, but we think additional market gains may be possible in 2020.

2019 Hits and Misses | Weekly Market Commentary | December 30, 2019

2019 was a difficult year to forecast after 2018 ended with the worst December since the Great Depression. While our positive stock market outlook proved too conservative, we are pleased to report we got more right than wrong for 2019.

New 2019 High | Weekly Market Performance | December 27, 2019

The S & P 500 Index gained for the 5th straight week, the Nasdaq Composite and Dow Jones Industrial Average broke to new highs, and even fixed income rose.

Profit Growth Key for 2020 Stocks | Weekly Market Commentary | December 23, 2019

We expect stocks to appreciate in line with earnings growth next year, which justifies benchmark-like equity allocations in our view.

Seasonal Lift | Weekly Market Performance | December 20, 2019

U.S. stocks rose again this week, with the S & P 500 Index gaining for the 10th week out of 11 and setting more record highs.

Portfolio Compass | December 19, 2019

LPL Research offers its top picks in equity asset classes, sectors, and fixed income in the new December Portfolio Compass.

Better Days Ahead for Bonds | Weekly Market Commentary | December 16, 2019

LPL Financial Research reviews the yield curve, bonds, Treasuries, and the state of fixed income for 2020.

Stocks Rise as Uncertainty Clears | Weekly Market Performance | December 13, 2019

Stocks rallied this week, and the 10-year U.S. Treasury yield climbed to a one-month high.

Outlook 2020: Printer-Friendly

LPL Research’s Outlook 2020: Bringing Markets Into Focus offers investment insights, market guidance, views on the elections, data-based charts, and forecasts for 2020 and beyond.

Outlook 2020: Client Letter

LPL Research’s Outlook 2020: Bringing Markets Into Focus offers investment insights, market guidance, views on the elections, data-based charts, and forecasts for 2020 and beyond.

Outlook 2020: Bringing Markets into Focus

LPL Research’s Outlook 2020: Bringing Markets Into Focus offers investment insights, market guidance, views on the elections, data-based charts, and forecasts for 2020 and beyond.

Ambling Along in 2020 | Weekly Market Commentary | December 9, 2019

U.S. economic growth has slowed in 2019. However, the economy is still growing, and we believe it will continue growing through 2020. As we highlighted in our Outlook 2020: Bringing Markets Into Focus, we’re projecting real GDP growth of 1.75% in 2020, slightly below average for this economic expansion.

Jobs Report Sparks Rally | Weekly Market Performance | December 6, 2019

U.S. stocks eked out a small weekly gain, based on the S&P 500 Index, thanks to Friday’s rally on the November jobs report.

Technicals Check-In | Weekly Market Commentary | December 2, 2019

Market momentum, global participation, and technical support all provide reasons to think gains may not be over for 2019. While volatility is always possible, record highs need not be be feared, and seasonal tendencies may remain a tailwind.

More Record Highs | Weekly Market Performance | November 29, 2019

U.S. stocks rose for the seventh time in eight weeks as investors took cues from a new batch of optimistic trade headlines.

Have We Hit the Earnings Bottom? | Weekly Market Commentary | November 25, 2019

While earnings declined year over year in the third quarter, results still exceeded expectations. Tariffs, ongoing policy uncertainty, and slower global growth have led to this earnings lull, but we remain optimistic that earnings growth bottomed last quarter and is poised to accelerate.

Stocks Take A Pause | Weekly Market Performance | November 22, 2019

U.S. stocks’ rally paused this week as investors processed another batch of trade headlines.

Portfolio Compass | November 20, 2019

LPL Research continues to support a bullish bias toward stocks as we head into year-end due to market momentum, breadth, and seasonality.

Recession Watch | Weekly Market Commentary | November 18, 2019

We expect steady growth in the U.S. economy and corporate profits in 2020.

More Highs on Trade Optimism | Weekly Market Performance | November 15, 2019

U.S. stocks rallied for the sixth consecutive week, notching new record highs along the way.

Market Insight Monthly | October 2019

October economic data pointed to a slowing - but still growing - U.S. economy.

A Tale of Two Economies | Weekly Market Commentary | November 11, 2019

We expect a strong U.S. labor market and solid consumer spending to fend off a recessionary environment.

Market Rally Continues | Weekly Market Performance | November 11, 2019

U.S. stocks rallied for the fifth consecutive week, notching new record highs along the way.

Reaching New Highs | Client Letter | November 7, 2019

Stocks have hit new highs, and we see several reasons this bull market could continue to deliver more highs.

Best Six Months of the Year | Weekly Market Commentary | November 4, 2019

The S&P 500 Index reached a fresh new high October 28, eclipsing the previous high of 3,025 set July 26, 2019.

New Highs Finally | Weekly Market Performance | November 1, 2019

U.S. stocks finally reached new highs in their fourth straight week of gains.

Market Tricks and Treats | Weekly Market Commentary | October 28, 2019

In the spirit of Halloween, we discuss some of the tricks and treats that might spook the markets between now and year-end.

S&P 500 Brushes Record High | Weekly Market Performance | October 25, 2019

U.S. stocks gained for a third straight week, and the S&P 500 Index brushed record highs.

Seasonal (Tail)winds | Weekly Market Commentary | October 21, 2019

The stock market has started October on a bumpy path. Many global issues remain unresolved, but seasonal forces, sound fundamentals, and breakthroughs on the trade and geopolitical1 fronts could help sustain the S&P 500 Index at record highs. Volatility can be uncomfortable, but we remain confident enough in domestic fundamentals that we would recommend suitable investors use any potential pullbacks to consider buying or rebalancing equity positions

Another Run at Record Highs | Weekly Market Performance | October 18, 2019

U.S. stocks gained this week, making another run at all-time highs as investors watched global developments, and third quarter earnings season kicked off.

Portfolio Compass | October 16, 2019

We have maintained our S&P 500 Index year-end fair value target of 3,000, even as the index hovers near that level following recent progress on U.S.-China trade discussions.

Earnings May See Better Days Ahead | Weekly Market Commentary | October 14, 2019

Corporate earnings growth has ground to a halt, but we think better times lie ahead. While tariffs and ongoing trade uncertainty could delay improvement, we remain optimistic that some progress on trade will be forthcoming and earnings growth could pick up over the coming quarters.

Stocks Rally to End Week | Weekly Market Performance | October 11, 2019

Stocks rallied on trade optimism late in the week, erasing the S&P 500 Index's 2% loss through Tuesday

Market Insight Quarterly | Third Quarter 2019

Continued economic growth and Fed rate cuts helped support stocks amid ongoing trade uncertainty.

Market Insight Monthly | September 2019

Economic data improves in September.

Policy Uncertainty Intensifies | Weekly Market Commentary | October 7, 2019

Geopolitical matters1 have complicated the tug-of-war between fiscal2 and monetary3 policies and contributed to investor concerns about increased policy uncertainty. Policy uncertainty will likely persist, but we think financial markets will climb this wall of worry.

Scary Start to October | Weekly Market Performance | October 4, 2019

Stocks fell for a third straight week as investors gauged the health of the U.S. economy and its impact on future monetary policy.

October Heats Up | Client Letter | October 3, 2019

October historically has been a volatile month but also the third strongest month of the year for the S&P 500 Index

Searching for Direction | Weekly Market Performance | September 27, 2019

Stocks searched for direction this week as investors digested news of political tensions and signs of trade progress.

Global Economy Muddles Along | Weekly Market Commentary | September 30, 2019

The U.S. economy continues to perform well when compared to the rest of the developed world, and is still exhibiting growth near its long-term trend. The outlook in other developed economies is not quite as bright, however, as unconventional and aggressive policy decisions from global central banks are becoming increasingly ineffective.

Central Banks Are Back | Weekly Market Commentary | September 23, 2019

Since we began highlighting the return of fiscal leadership as a primary driver for economic and market activity nearly two years ago, we’ve seen the return to central bank dominance, particularly by the U.S. Federal Reserve. This has significant implications for global markets.

Markets Take A Punch | Weekly Market Performance | September 20, 2019

Large cap equities outperformed small caps, while the growth style of investing modestly outpaced value

Portfolio Compass | September 19, 2019

We have maintained our S&P 500 Index year-end fair value target of 3,000, even after the index broached that target September 17.

The Curious Case of Negative Yields | Weekly Market Commentary | September 16, 2019

There’s a growing pile of negative-yielding debt around the world amid extraordinary monetary policy initiatives.

Grinding Higher | Weekly Market Performance | September 13, 2019

Equities continued to rise this week, sending the S&P 500 Index back over the 3,000 level and near its record high of 3,027.98 set July 26.

Market Insight Monthly | August 2019

U.S. economic data was mixed in August, reflecting the complicated macro economic environment in the midst of high trade uncertainty.

Another Up Week on Trade Optimism | Weekly Market Performance | September 9, 2019

Equities rose during the holiday-shortened week as investors digested several geopolitical and trade headlines alongside a mixed batch of key economic data.

Corporate Earnings Outlook | Weekly Market Commentary | September 9, 2019

We lowered our 2019 earnings growth forecast for the S&P 500 Index on August 19 due to increased risk to economic growth and corporate profits from the ongoing trade conflict between the United States and China. Until we get clarity on trade, we believe earnings will likely continue to grow but only modestly.

The Dog Days of Summer | Client Letter | September 4, 2019

Fundamentals of the U.S. economy remain solid even as trade uncertainty weighs on investor sentiment.

U.S. Treasuries and the Yield Curve | Weekly Market Commentary | September 3, 2019

We recently reduced our year-end forecast range for the 10-year U.S. Treasury yield from 2.5–2.75% to 1.75–2%. This significant reduction reflects what we consider the many somewhat curious aspects of the domestic and global macroeconomic environments. Trade uncertainty, low inflation, geopolitical risks, monetary policy, and relative valuation all played a role in our decision. To be sure, delayed prospects for a U.S.-China trade agreement remain central to our economic and market projections in the coming months.

Trade, Tweets, and Grand Tetons | Weekly Market Performance | August 23, 2019

Equities investors endured another volatile week, book-ended by positive trade vibes Monday, August 19, only to be thrust into negative territory Friday, August 23.

LPL's U.S. Real GDP Forecast Change | Weekly Market Commentary | August 26, 2019

We have lowered our projections for U.S. gross domestic product (GDP), the 10-year U.S. Treasury yield, and operating earnings for the S&P 500 Index in 2019, as we noted in the August 19 Weekly Market Commentary: Tweaking Forecasts, and introduced our preliminary 2020 forecasts.

Portfolio Compass | August 21, 2019

We have maintained our S&P 500 Index year-end fair value target of 3,000 despite our lowered economic and earnings growth forecasts amid trade uncertainty.

Tweaking Our Forecasts | Weekly Market Commentary | August 19, 2019

Recession fears from the yield curve inversion offset the boost from the tariff delay.

The New (Ab)normal | Weekly Market Commentary | August 12, 2019

Stocks endured significant volatility last week but showed some resilience Wednesday, August 7.

Stocks & Bonds: Turn Down For What! | Weekly Market Performance | August 16, 2019

Investors endured another volatile five-day stretch as the combination of trade uncertainty, plunging global bond yields, and conflicting messages between the United States and global economies further pressured stock prices.

Market Insight Monthly | July 2019

Gross domestic product (GDP) increased 2.1% in the second quarter, bolstered by consumer spending’s 2.9% contribution to growth.

Seasonal Slump? | Weekly Market Commentary | August 5, 2019

Last week’s stock market slide begs the question whether this August will fit its historical pattern of seasonal weakness.

The Fed's Course Correction | Weekly Economic Commentary | August 5, 2019

The Fed cut interest rates for the first time in 10 years

A Fed Rate Cut and the Economy | Client Letter | August 1, 2019

The Fed cut interest rates even though the economy is still growing, albeit slowly.

The Inaugural Rate Cut | Weekly Economic Commentary | July 29, 2019

The Fed is expected to cut rates this week for the first time in 10 years.

More On Fed Rate Cut Implications | Weekly Market Commentary | July 29, 2019

The Federal Reserve (Fed) is likely to start an easing cycle this week, which has several investment implications.

A Consumer-Driven Quarter | Weekly Economic Commentary | July 22, 2019

We're encouraged by the strength in consumer spending, but economic growth needs to be broader.

Riding The Wave...For Now | Weekly Market Commentary | July 22, 2019

We are maintaining our year-end fair value target of 3,000 even though the index is very close to that level.

Portfolio Compass | July 19, 2019

Stock valuations remain favorable in our view, even with the S&P 500 Index near our year-end fair value target of 3,000.

Market Insight Quarterly | Second Quarter 2019

Stocks Rise, Rates Fall as Investors Position for Lower Rates

Q2 Earnings: Muddling Through | Weekly Market Commentary | July 15, 2019

We expect slightly positive earnings growth in the second quarter, with substantial drag from falling technology sector earnings.

Central Bank Check-In | Weekly Economic Commentary | July 15, 2019

Financial markets are focused on U.S. monetary policy, but the Federal Reserve (Fed) is only part of the story.

Market Insight Monthly | June 2019

U.S. economic data moderated in June as trade tensions plagued the global economy.

Job Market Stands Strong | Weekly Economic Commentary | July 8, 2019

Labor market conditions rebounded last month from a disappointing May, easing market worries about the impact of trade tensions on corporate hiring.

Taking Stock At The Halfway Mark | Weekly Market Commentary | July 8, 2019

Even after such a strong first half of this year, we think stocks may have more left in the tank.

Longest Economic Expansion Ever | Client Letter | July 3, 2019

Trade tensions and market volatility couldn't stop the United States' record-setting economic expansion.

Moderate Growth Ahead | Weekly Economic Commentary | July 1, 2019

Fundamentals continue to support steady but moderate economic growth.

Stock Fundamentals Still Supportive | Weekly Market Commentary | July 1, 2019

We expect stocks to move higher over the second half of the year.

Midyear Outlook 2019: Printer-Friendly

We are pleased to announce the release of the LPL Research Midyear Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets, with investment insights and market guidance through the end of 2019

Midyear Outlook 2019: Client Letter

Midyear Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets

The midyear report provides updated views of current fundamentals and factors that should persist as shorter-term concerns fade, while emphasizing the four primary pillars for investing policy, the economy, fixed income, and equities.

Portfolio Compass | June 19, 2019

Slower but still solid economic growth and modest inflationary pressure may be headwinds for fixed income.

Setting The Stage | Weekly Economic Commentary | June 17, 2019

The Federal Reserve is scheduled to announce its next policy decision June 19

Stocks and Fed Rate Cuts | Weekly Market Commentary | June 17, 2019

Stocks have benefited recently from increasing hopes of a Fed rate cut, although investors probably won't get one this week.

Market Insight Monthly | May 2019

U.S. economic data improved in May on balance, even as investors battled a resurgence in U.S.-China trade tensions.

A Record-Long Expansion | Weekly Economic Commentary | June 10, 2019

This economic expansion is now one of the longest on record.

Bull Market For Policy Uncertainty | Weekly Market Commentary | June 10, 2019

Policy uncertainty remains high, particularly around trade.

Trade and Tariffs | Client Letter | June 6, 2019

Our June letter discusses the U.S.-China trade dispute, tariffs on Mexican imports, and the possible effects on financial markets. It also explains
why we think the S&P 500 may hit new highs later this year.

Bond Markets' Signal to Stocks | Weekly Market Commentary | June 3, 2019

Worrisome signals from the bond market contributed to stocks’ first monthly decline of 2019.

The Baffling Bond Market | Weekly Economic Commentary | June 3, 2019

The bond market has been baffling recently.

Five Forecasters | Weekly Market Commentary | May 28, 2019

Our Five Forecasters are collectively indicating that further economic growth and stock market gains appear likely.

Five Forecasters | Weekly Economic Commentary | May 28, 2019

Our Five Forecasters collectively point to economic growth ahead.

Earnings Season Takeaways | Weekly Market Commentary | May 20, 2019

It appears an earnings recession has been averted and better earnings days lie ahead, though trade uncertainty is a huge wild card.

A Step Back On Trade | Weekly Economic Commentary | May 20, 2019

Investors aren't quite out of the woods yet with trade tensions.

Portfolio Compass | May 16, 2019

Lowered long-term muni view from Neutral/Positive to Neutral

Deal Or No Deal | Weekly Market Commentary | May 13, 2019

Escalating U.S.-China trade tensions caused stocks to sell off more than 2% last week.

The Power of Productivity | Weekly Economic Commentary | May 13, 2019

First quarter productivity rose at the fastest year-over-year pace since 2010.

Market Insight Monthly | April 2019

Green shoots appeared in U.S. economic data as the economy entered the second quarter. Leading indicators signaled low odds of a recession in the coming year.

Sell In May? | Weekly Market Commentary | May 6, 2019

The May through October period has historically been the weakest six months for equities.

A High Bar For Lower Rates | Weekly Economic Commentary | May 6, 2019

Markets are positioning for the first Fed rate cut in 10 years.

Off to a Strong Start | Client Letter | May 2, 2019

The economy is off to a strong start in 2019! Click Read More to find out what LPL Research says about market fundamentals and what we might see the rest of 2019.

Stocks Reach Record Highs | Weekly Market Commentary | April 29, 2019

The S&P 500's new record high set last week ended a more than 7-month drought without one.

First Quarter's GDP Surprise | Weekly Economic Commentary | April 29, 2019

First quarter GDP growth was surprisingly strong.

Fading Momentum | Weekly Market Commentary | April 22, 2019

U.S. stocks are sitting at the same levels they were seven months ago, but the path hasn’t been straight.

Green Shoots on Main Street | Weekly Economic Commentary | April 22, 2019

Our Beige Book Barometer climbed from a seven-year low.

Portfolio Compass | April 18, 2019

Lowered Stocks view from Neutral/Positive to Neutral; Lowered U.S. Equities view from Neutral/Positive to Neutral; Raised Bonds view from Negative/Neutral to Neutral

Market Insight Quarterly | First Quarter 2019

U.S. economy sent mixed signals amid uncertainty.

What's Priced In | Weekly Market Commentary | April 15, 2019

After such a strong rally for stocks this year, you may be wondering what could drive stocks higher from here.

Too High or Too Low? | Weekly Economic Commentary | April 15, 2019

Signs of slowing global growth have fueled worries of tepid domestic inflation.

Market Insight Monthly | March 2019

U.S. economic data were mixed in March, although leading indicators signaled low odds of a recession in the coming year.

Q1 Earnings Preview | Weekly Market Commentary | April 8, 2019

We expect roughly flat earnings for the first quarter, putting the seven-quarter streak of growth in jeopardy.

Signs of Spring | Weekly Economic Commentary | April 8, 2019

Leading indicators in jobs, manufacturing, and markets suggest economic acceleration.

Signals We See in Q1 2019 Results | Client Letter | April 4, 2019

Our April letter comments on the S&P 500 Index’s strong first quarter and steady but slower GDP growth.

The Stock Market's Final Four | Weekly Market Commentary | April 1, 2019

This week we share our "Final Four Factors" for the stock market in 2019: 1-Policy, 2-the Economy, 3-Rates, and 4-Profits.

Our Final Four For The U.S. Economy | Weekly Economic Commentary | April 1, 2019

A rebound in global conditions, capital expenditures, and sentiment may help fuel growth.

Portfolio Compass | March 20, 2019

No changes.

Yields' March Madness | Weekly Economic Commentary | March 25, 2019

Last week, the 10-year Treasury yield fell below the 3-month yield for the first time since 2007.

Balanced Risk Reward | Weekly Market Commentary | March 25, 2019

Following the stock market’s recent move higher, coupled with a slightly weaker economic and corporate profit outlook, the risk-reward trade-off in stocks has become less attractive.

An Attention-Grabbing Jobs Report | Weekly Economic Commentary | March 18, 2019

WEC Description: February’s job growth was disappointing, but it followed the biggest two-month gain since 2016.

Movin On Up (In Market Cap) | Weekly Market Commentary | March 18, 2019

Small cap stocks have performed well so far in 2019; however, we believe the environment is getting tougher.

Market Insight Monthly | February 2019

U.S. economic data were sound in February, even as confidence fell amid uncertainty from global trade and political headwinds.

Modest Pullback Or Something Bigger? | Weekly Market Commentary | March 11, 2019

Following such a strong rally since the December 24 lows, a pullback is reasonable to expect.

Main Street Sentiment At 7-Year Low | Weekly Economic Commentary | March 11, 2019

Our Beige Book Barometer has dropped to its lowest level since the 2011 European debt crisis.

Bull Market Reaches 10 Years | Client Letter | March 7, 2019

Please see our latest client letter, which discusses the bull market.

An Aging Cycle | Weekly Economic Commentary | March 4, 2019

Slow (but steady) growth and accommodative policy have made this expansion especially durable.

Five Key Questions | Weekly Market Commentary | February 25, 2019

Stocks may keep going higher, but the easy gains likely have been made.

Economic Data FAQs | Weekly Economic Commentary | February 25, 2019

We expect growth to stabilize as near-term headwinds subside.

Portfolio Compass | February 20, 2019

Upgraded precious metals view to neutral from negative/neutral.

Updates to Our Economic Forecasts | Weekly Economic Commentary | February 19, 2019

We’ve lowered our 2019 forecasts for Fed policy moves, GDP growth, and rates.

The Rally Continues | Weekly Market Commentary | February 19, 2019

The market rally continues, with stocks off to their best year’s start since 1991.

Key Takeaways from Fourth Quarter Earnings | Weekly Market Commentary | February 11, 2019

Earnings growth for the fourth quarter is tracking to a solid 17%, above prior estimates but below the pace of the previous three quarters.

Feeling Confident? | Weekly Economic Commentary | February 11, 2019

Consumer confidence has dropped sharply, primarily from what we see as temporary factors.

Market Insight Monthly | January 2019

January’s reports painted a picture of a solid economy struggling with global uncertainty.

Stocks Warm Up In January | Client Letter by John Lynch | February 7, 2019

The February client letter discusses positive developments in the economy and markets in January.

That Was the Easy Part | Weekly Market Commentary | February 4, 2019

Stocks posted their best January in more than 30 years after a historically bad December.

The Fed's Policy U-Turn | Weekly Economic Commentary | February 4, 2019

The Federal Reserve (Fed) just delivered a widely expected but important monetary policy decision.

The Fed Faces Market Fears | Weekly Economic Commentary | January 28, 2019

The Fed’s signals on future policy in this week’s meeting will be especially telling.

Is the Fed Almost Done? | Weekly Market Commentary | January 28, 2019

We expect the Fed to pause interest rate hikes this week.

Brexit Clouds Linger | Weekly Market Commentary | January 22, 2019

Following last week’s rejection of Theresa May’s Brexit plan, we discuss what’s next for the United Kingdom and possible market implications.

Main Street's Growing Uncertainty | Weekly Economic Commentary | January 22, 2019

The Beige Book Barometer dropped to a nine-month low.

Portfolio Compass | January 16, 2019

Positions maintained (no changes); updates on LPL Research's views on equity, equity sectors, fixed income, and alternative asset classes.

Fourth Quarter Earnings Preview: From Great to Good | Weekly Market Commentary | January 14, 2019

S&P 500 earnings growth will slow in the fourth quarter but is still expected to be strong.

A Historic Government Shutdown | Weekly Economic Commentary | January 14, 2019

We believe this government shutdown will have limited long-term ramifications for economic growth.

Market Insight Quarterly | Fourth Quarter 2018

Stocks slide most since 2011, even amid solid economic data.

Market Insight Monthly | December 2018

Economic trends generally improved in December, even amid some of the most significant financial market volatility of the bull market.

A New Year’s Perspective | Client Letter by John Lynch | January 10, 2019

Our January Client Letter discusses the emotional toll of a challenging market environment, while reinforcing our confidence in the fundamentals supporting the economy and markets.

A Wild Week in Review | Weekly Economic Commentary | January 7, 2019

We still see a solid U.S. economy struggling with trade tensions, but far from recessionary territory.

Lower Valuations Offer Long-Term Opportunity | Weekly Market Commentary | January 7, 2019

This week, we look at stock valuations to try to gauge the potential opportunity for stocks.

Market Fears and Economic Realities | Weekly Economic Commentary | December 31, 2018

Increased uncertainty around policy risks has contributed to sharp market declines.

That Sure Felt Like a Bear | Weekly Market Commentary | December 31, 2018

The S&P 500 Index came about as close as possible to the technical definition of a bear market without officially registering one.

Recent Volatility in the Markets | Client Letter by John Lynch | December 21, 2018

Client letter sharing perspective and discussing guidance from Outlook 2019.

Portfolio Compass | December 19, 2018

Downgraded small growth from neutral to negative/neutral; Downgraded small value from neutral/positive to neutral; Upgraded large growth from negative/neutral to neutral; Downgraded hedged foreign bonds from neutral to negative/neutral.

Outlook 2019: Executive Summary

The Executive Summary highlights key themes and LPL Research economic and market forecasts from Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets

Outlook 2019: FUNDAMENTAL | Client Letter by John Lynch | December 17, 2018

The LPL Research Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets provides insightful commentary for the year ahead.

Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets

The LPL Research team proudly presents the LPL Research Outlook 2019: FUNDAMENTAL: How to Focus on What Really Matters in the Markets, with investment insights and market guidance for the year ahead.

Market Insight Monthly | November 2018

Economic trends generally improved in November, even after strong gross domestic product (GDP) growth over the last two quarters.

Retest | Weekly Market Commentary | December 10, 2018

We view last week’s market decline as a retest of the October–November lows.

U.S.-China Trade Deal, One Week Later | Weekly Economic Commentary | December 10, 2018

Conflicting messages from government officials led investors to question initial trade-deal optimism.

Looking Ahead to 2019 | Client Letter by John Lynch | December 6, 2018

We reflect on the 2018 markets and provide our expectations for 2019.

Fed Shows Flexibility | Weekly Economic Commentary | December 3, 2018

Fed fund futures are more dovish than the Fed’s dots, but the Fed is treading carefully.

Strong Week Ahead of Big Weekend | Weekly Market Commentary | December 3, 2018

Last week’s stock market rally was driven by optimism (now clearly warranted) surrounding U.S.-China trade talks and a more dovish Fed.

The Current State of Capex | Weekly Economic Commentary | November 26, 2018

We expect robust capex growth to resume once U.S. businesses get more clarity around trade.

Corporate America Impresses Again | Weekly Market Commentary | November 26, 2018

Third quarter earnings season was again very impressive, with S&P 500 Index earnings growing 28% year over year, the fastest pace since the fourth quarter of 2010.

Portfolio Compass | November 14, 2018

Upgraded our view of mortgage-backed securities (MBS) from neutral to neutral/positive; Downgraded our view of bank loans to neutral from neutral/positive.

Trade Check-In | Weekly Economic Commentary | November 12, 2018

We still believe trade’s economic impact will be limited, but the indirect consequences should be monitored.

Midterm Takeaways | Weekly Market Commentary | November 12, 2018

Getting past the midterm election removes uncertainty and enables investors to focus on fundamentals, which we believe can be positive for stocks.

Market Insight Monthly | October 2018

Overall, October’s economic reports reflected solid U.S. economic growth and manageable inflationary pressures.

Midterms and the Markets | Client Letter by John Lynch | November 7, 2018

When it comes to elections, the markets seem to seek clarity above all else; yet there are some policy implications to consider. We break down the 2018 midterm elections in this latest Client Letter.

Rising Wages and the U.S. Economy | Weekly Economic Commentary | November 5, 2018

We believe wage growth (and labor costs) will remain manageable amid the Fed’s gradual approach and changing labor market dynamics.

The Bright Side | Weekly Market Commentary | November 5, 2018

Within the four-year presidential cycle, this quarter and the following two quarters next year are historically the best for stocks.

Another Tough Week | Weekly Market Commentary | October 29, 2018

The S&P 500 fell about 4% last week amid a myriad of concerns, among them possible peak earnings and a potentially overly aggressive Federal Reserve.

Focusing on Fundamentals | Weekly Economic Commentary | October 29, 2018

As financial markets fluctuate, we encourage investors to focus on solid U.S. economic fundamentals.

Third-Quarter GDP Preview | Weekly Economic Commentary | October 22, 2018

The U.S. economy likely grew at a moderate to strong pace in the third quarter.

Earnings Update: So Far So Good | Weekly Market Commentary | October 22, 2018

With about one-fifth of third quarter earnings results in, the numbers have been solid thus far despite tariffs and increasing wage pressures.

Portfolio Compass | October 17, 2018

Updates on LPL Research's views on equity, equity sectors, fixed income, and alternative asset classes.

Benign Inflation Readings Support Fed's Gradual Approach | Weekly Economic Commentary | October 15, 2018

Several new readings on inflation last week confirmed that price pressures remain manageable, supporting a continued gradual path of rate hikes for the Federal Reserve (Fed).

Perspective on Market Volatility | Weekly Market Commentary | October 15, 2018

We share our perspective on the sell-off and discuss where stocks may go from here.

Putting Recent Volatility in Context | Client Letter by John Lynch | October 11, 2018

This client letter addresses the recent market volatility. Although it can be difficult to experience these declines and volatility may continue in the near term, the underlying fundamentals of the economy and markets are positive and we see potential for a year-end rally.

Market Insight Monthly | September 2018

Overall, economic reports released in September—mostly reflecting economic activity in August—indicated solid U.S. economic growth without significant inflationary pressures, though wage gains bear monitoring.

Global Economic Outlook: U.S. and EM Poised to Underpin Growth | Weekly Economic Commentary | October 8, 2018

We expect global growth to slow in 2019 but remain strong enough to continue to support the broad global economy and markets.

Global Equity Market Outlook: Favor U.S.; Stick with EM | Weekly Market Commentary | October 8, 2018

U.S. economic and earnings growth continue to stand out globally and support our positive view of U.S. equities.

Key Factors to Watch in Q4 | Client Letter by John Lynch | October 4, 2018

In this latest client letter, we look back on the strong growth and stock gains from the third quarter, and discuss key factors to watch as we kick off the last three months of the year.

Best Quarter for Stocks Since Q4 2013 | Weekly Market Commentary | October 1, 2018

We’ve just wrapped up the best quarter for the S&P 500 Index since the fourth quarter of 2013, despite a variety of challenges.

The Dot Disconnect | Weekly Economic Commentary | October 1, 2018

While the Fed raised its policy rate last week, the more important meeting outcome was the Fed’s guidance on future policy.

The Dow Joins the Party | Weekly Market Commentary | September 24, 2018

When the Dow hits a fresh record high after a long drought, as it did last week, it tends to be followed by above-average performance.

Fed Meeting Preview | Weekly Economic Commentary | September 24, 2018

The Federal Reserve’s monetary policy meeting will be a focal point for markets this week.

Portfolio Compass | September 19, 2018

Positions maintained (no changes); updates on LPL Research's views on equity, equity sectors, fixed income, and alternative asset classes.

Beige Book: Window on Main Street | Weekly Economic Commentary | September 18, 2018

Beige book suggests continued moderate economic growth.

Midterm Mayhem? | Weekly Market Commentary | September 18, 2018

Policy uncertainty surrounding the upcoming midterm elections may lead to an increase in near-term market volatility.

Market Insight Monthly | August 2018

Overall, economic reports released in August—mostly reflecting economic activity in July—indicated solid U.S. economic growth without significant inflationary pressures, even though evidence grew of some cooling from trade concerns.

Manufacturing Health at 14-Year High | Weekly Economic Commentary | September 10, 2018

Strong manufacturing growth is a bellwether for overall economic health.

Is EM Washed Out? | Weekly Market Commentary | September 10, 2018

Sentiment on emerging markets (EM) is reaching levels consistent with a contrarian buy signal.

Plenty of Positives | Client Letter by John Lynch | September 6, 2018

This Client Letter discusses recent positive indicators for U.S. economy and stocks, which we believe outweigh some areas for investor concern.

Productivity on the Rise | Weekly Economic Commentary | September 4, 2018

Signs of sustainable productivity growth are emerging, thanks to solid economic fundamentals and the tailwind of fiscal stimulus.

S&P Sector Switcheroo | Weekly Market Commentary | September 4, 2018

S&P 500 GICS sectors will undergo a significant shift later this month with a big revamp and expansion of the telecommunication services sector.

Powell's Policy Pragmatism | Weekly Economic Commentary | August 27, 2018

Recent Fed communication reinforced its view that gradual hikes were the appropriate response to a strong economy, near-target inflation, and balanced risks.

Another Impressive Show from Corporate America | Weekly Market Commentary | August 27, 2018

Second quarter earnings season was quite impressive, with S&P 500 Index earnings growing 25% year over year.

Turkey's Crisis and Economic Growth | Weekly Economic Commentary | August 20, 2018

It has been a complicated year for emerging markets (EM).

Is Turkey a Reason to Sell EM? | Weekly Market Commentary | August 20, 2018

We think emerging markets (EM) contagion fears resulting from the crisis in Turkey may be overdone.

Portfolio Compass | August 15, 2018

Positions maintained (no changes); updates on LPL Research's views on equity, equity sectors, fixed income, and alternative asset classes.

Longest Bull Market Ever | Weekly Market Commentary | August 13, 2018

The bull market continues to defy the skeptics and is now nearing a major milestone.

Does 'Headline' Inflation Tell the Whole Story | Weekly Economic Commentary | August 13, 2018

As the U.S. economic recovery moves into its later stages, inflation has emerged at a surprisingly slow and inconsistent rate.

Market Insight Monthly | July 2018

Economic reports released in July 2018, largely reflecting economic activity in June, provided evidence of accelerating U.S. economic growth over the second quarter.

The Fed’s Policy Conundrum | Bond Market Perspectives | August 7, 2018

The Fed announced last Wednesday that it would keep interest rates unchanged, a decision that markets largely expected.

July Employment Report: Healthy Job Gains Despite Missing Expectations | Weekly Economic Commentary | August 6, 2018

The Labor Department’s July jobs report, released on Friday, August 3, confirmed that the labor market remains healthy.

Focus FAQs | Weekly Market Commentary | August 6, 2018

We share the most frequently asked questions from Focus 2018, on topics such as trade tensions, emerging markets, growth versus value, and the yield curve.

Recapping the Latest Earnings and GDP Reports | Client Letter by John Lynch | August 2, 2018

As we look back on the month of July, the standout stories for the summer so far have been strong U.S. economic growth and surging corporate profits. This latest Client Letter recaps these reports and emphasizes the importance of focusing on fundamentals through any potential stock market volatility.

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