What Muddling Through Might Look Like

Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Wednesday, January 11, 2023 The consensus sees a U.S. recession coming in 2023, though opinions vary widely on how significant it might be. LPL Research acknowledges that a recession this year is probably more likely than not at this point, and the risk of another tough year for […]

January 11, 2023

Consumer Inflation Falls Below 1% Over Second Half of 2022

Posted by Barry Gilbert, PhD, CFA, Asset Allocation Strategist Thursday, January 12, 2023 We received our final reading on Consumer Price Index (CPI) inflation for 2022 this morning, which gave us the inflation numbers for December 2022. Helped by declining energy prices, the index fell 0.1% in December, in line with economists’ consensus expectation and the […]

January 12, 2023

Newest Econ Market Minute

January 13, 2023

Retail Sales Downshift in December

Posted by Jeffrey J. Roach, PhD, Chief Economist Wednesday, January 18, 2023 Trajectory Is Weakening  The U.S. economy weakened in December. Overall spending in December fell over 1% month over month after a downwardly revised 1% decline in November. Lower sales on autos and at gas stations contributed over half of the decline in total retail […]

January 18, 2023

Earnings Down, Stocks Up? Not as Uncommon as You Think

Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Thursday, January 19, 2023 Investors often talk about how earnings drive stock prices. But that begs the question how so many strategists and pundits expect earnings to fall in 2023 and stocks to rise? That’s our view in LPL Research. Let’s look at the histories of earnings growth […]

January 19, 2023

How SECURE 2.0 Makes Saving for Retirement Easier

Posted by Barry Gilbert, PhD, CFA, Asset Allocation Strategist Friday, January 6, 2023 There was good news for those saving for retirement in the recent appropriations bill passed to fund the government, signed into law by President Biden on December 29, 2022. The larger bill included a set of retirement reforms called SECURE 2.0. A kind […]

January 20, 2023

S&P 500—Going for it on Fourth Down Again?

Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, January 20, 2023 The S&P 500 kicked off 2023 with a solid start, moving the year-to-date return chains to over 4% last week before giving up some yardage over the previous few sessions (the index is still up 1.6% as of January 19). Oversold conditions, China’s […]

Can a Technical Headwind Turn Into a Tailwind? We Think So.

Posted by Lawrence Gillum, CFA, Fixed Income Strategist Wednesday, January 25, 2023 To say that last year was a bad year for fixed income investors would be a huge understatement. With the Federal Reserve (Fed) embarking on the most aggressive rate hiking campaign since the 1980s, most fixed-rate coupon bond markets delivered the worst returns many […]

January 25, 2023

Solid End to 2022, but Risks to U.S. Economy Rising

Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Thursday, January 26, 2023 Solid Quarter to End 2022 but Tougher Sledding in Q1 The U.S. economy grew at a 2.9% annualized rate in the fourth quarter, slightly better than economists’ forecasts and driven by inventories, trade, and government spending. The solid overall growth follows the 3.2% annualized […]

January 26, 2023

Are Yields Pointing to a Change in Monetary Policy?

Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, January 27, 2023 The spotlight will shift from earnings to the Federal Reserve (Fed) next week as they wrap up their 2-day monetary policy meeting on Wednesday, February 1. Market expectations are set for an increase of 25 basis points (bps) in the fed funds rate, […]

January 27, 2023