Stocks endured significant volatility last week but showed some resilience Wednesday, August 7.
Market Research updates from LPL Financial
The equity markets struggled in the week ending Thursday, August 8, weighed down by currency-related trade uncertainty after China retaliated against new tariffs by devaluing the yuan.
Gross domestic product (GDP) increased 2.1% in the second quarter, bolstered by consumer spending’s 2.9% contribution to growth.
Last week’s stock market slide begs the question whether this August will fit its historical pattern of seasonal weakness.
The Fed cut interest rates for the first time in 10 years
The Fed cut interest rates even though the economy is still growing, albeit slowly.
The Fed is expected to cut rates this week for the first time in 10 years.
The Federal Reserve (Fed) is likely to start an easing cycle this week, which has several investment implications.
We’re encouraged by the strength in consumer spending, but economic growth needs to be broader.
We are maintaining our year-end fair value target of 3,000 even though the index is very close to that level.