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Market Update: 07-22-19

RIDING THE WAVE...FOR NOW

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

The S&P 500 Index is very close to our year-end target of 3,000. The S&P 500 is up nearly 20% year to date and, after first closing above our year-end fair value target range July 12, it now stands less than 1% from our target [Figure 1]. Now that we’ve reached our target, is it time to sell? Here we provide some context for our stock market forecast to help explain why we haven’t raised our fair value target or recommended investors reduce their equities allocations.

TIME TO SELL?

In late March of this year, we lowered our equities recommendation to market weight. This change was an acknowledgement that stocks had made a strong run and the risk-reward trade-off between stocks and bonds had become more balanced. We cited slower economic growth in the United States and...

Download the complete PDF with graphs here.

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Susan Jerris

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