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June 19, 2020

Market Update: Fri, Jun 19, 2020 | LPL Financial Research

DAILY INSIGHTS

Stocks up again. Stocks in the US opened higher to end what could be a strong week after losses last week. Bloomberg reported China plans to accelerate US agriculture purchases on an otherwise light news day. Spikes in COVID-19 cases continue in several southern and western US states as the reopen continues and economic data improves. Asian markets gained ground, while European markets were showing green in midday trading.

COVID-19 news. Confirmed new US cases rose 27,800 yesterday, a 21.3% increase, with almost all of the increase coming from the South. Arizona, Florida, California, South Carolina and Texas all reported record-high single-day increases. The positive test rate nationally also moved in the wrong direction, jumping to 5.8% yesterday. In more optimistic news, hospitalizations dipped nationally for the first time in three days (Source: COVID-19 Tracking Project).

LEI Turns Positive The Conference Board released its Leading Economic Index (LEI) report for May yesterday, showing the series returned to positive monthly growth after suffering steep declines in recent months. We examine the data release, as well as its implications for future economic growth and investors, in further detail on the LPL Research Blog.

IMPORTANT DISCLOSURES

This material is for general information only and is not intended to provide specific advice or recommendations for any individual. There is no assurance that the views or strategies discussed are suitable for all investors or will yield positive outcomes. Investing involves risks including possible loss of principal. Any economic forecasts set forth may not develop as predicted and are subject to change.

References to markets, asset classes, and sectors are generally regarding the corresponding market index. Indexes are unmanaged statistical composites and cannot be invested into directly. Index performance is not indicative of the performance of any investment and do not reflect fees, expenses, or sales charges. All performance referenced is historical and is no guarantee of future results.

Any company names noted herein are for educational purposes only and not an indication of trading intent or a solicitation of their products or services. LPL Financial doesn’t provide research on individual equities.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

All index and market data are from FactSet and MarketWatch.

This Research material was prepared by LPL Financial, LLC.

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