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Market Update: 05-20-19

Jerris Wealth Management Group LPL Research Weekly Market Update

EARNINGS SEASON TAKEAWAYS

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

Earnings season delivered as expected. With 92% of results for S&P 500 Index companies in the books, first quarter 2019 earnings are tracking to roughly flat with the prior year [Figure 1]. While flat earnings don’t sound impressive, we consider it a victory given consensus estimates were calling for a 4 – 5% decline when earnings season began (source: FactSet). Here, we recap the numbers and provide some key takeaways from earnings season.

Market Update: 05-13-19

Jerris Wealth Management Group LPL Research Weekly Market Update

DEAL OR NO DEAL

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

U.S.-China trade tensions escalated last week. President Trump increased tariffs on $200 billion of Chinese imports to the United States from 10% to 25% and has threatened to put 25% tariffs on an additional $325 billion of Chinese goods — a process that could begin this week, though it would take a couple of months to implement. Stocks reacted as you would expect, falling 2.1% over the five trading sessions. It could’ve been worse, but the S&P 500 Index gained 0.4% on Friday after Treasury Secretary Steven Mnuchin reported that talks on Thursday and Friday were constructive. Though this slide could certainly go further (and is, as of the morning of May 13), it has been quite modest to this point. In fact, as of its close May 10, the S&P 500 had not experienced more than a 3% pullback yet this year. Even with Monday morning’s losses, the index sits only about 4% from its record closing high of 2945.83 on April 30, 2019. Here, we put this pullback in perspective and discuss prospects for a trade deal in light of the events of the past week.

Market Update: 05-06-19

Jerris Wealth Management Group LPL Research Weekly Market Update

SELL IN MAY?

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

“Sell in May and go away” is probably the most widely cited stock market cliché in history. Every year a barrage of Wall Street commentaries, media stories, and investor questions flood in about the popular stock market adage. This week, we tackle this commonly cited seasonal pattern, and why some seasonal weakness could make sense in 2019.

Market Update: 04-29-19

Jerris Wealth Management Group LPL Research Weekly Market Update

STOCKS REACH RECORD HIGHS

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

Stocks reached new highs last week. The S&P 500 Index completed a V-shaped recovery last week to register its first record high since September 20, 2018, to close at 2933.68 on April 23. Here we share our thoughts on what this record could mean for stocks going forward.

Market Update: 04-22-19

Jerris Wealth Management Group LPL Research Weekly Market Update

FADING MOMENTUM

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

U.S. stocks are sitting at the same levels they were seven months ago, but the path hasn’t been straight. Equity investors have been on a bumpy ride since September 2018, and investors’ resolve has been tested amid back-and-forth in trade negotiations, a historic government shutdown, Brexit, the Federal Reserve’s (Fed) U-turn in policy, and signs of a global slowdown.

Market Update: 04-15-19

Jerris Wealth Management Group LPL Research Weekly Market Update

WHAT’S PRICED IN

John Lynch Chief Investment Strategist, LPL Financial | Jeffrey Buchbinder, CFA Equity Strategist, LPL Financial

After such a strong rally for stocks this year, you may be wondering what could drive stocks higher from here. With the S&P 500 Index less than 1% away from its all-time high set September 20, 2018, a lot of good news has been priced into stocks. You may also be wondering what possible disappointments could cause stocks to pull back from here, especially given the soft patch in the U.S. economy and corporate profits during the first quarter.

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Our Team

Susan Jerris

Susan
Jerris

LPL Registered Principal 
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Anthony Roble

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Roble

LPL Registered Administrative Assistant
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CA Insurance License #0K61923
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Diana Esperon

Diana
Esperon

Administrative Assistant
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