Market and Economic News from LPL Financial Research Team
Week of August 12, 2019
MARKET COMMENTARY; This weekly update offers insights into domestic and global financial markets events, policy actions, and geopolitical impacts.
- Stocks endured significant volatility last week but showed some resilience Wednesday, August 7, when the S&P 500 Index dropped as much as 2% intraday before rallying back late to close slightly positive. Stocks ended the week near flat, putting the S&P 500 about 3% away from its record high.
ECONOMIC COMMENTARY; This weekly update offers insights into the U.S. and global economy.
- The Fed cut interest rates for the first time in 10 years.
- Economic data still doesn’t warrant a cut, but U.S. businesses need a confidence boost.
- This rate cut will likely not be a one-and-done event.