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Market Update: 07-27-20

STALLING ECONOMIC RECOVERY MAY SLOW STOCK MARKET RALLY

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

Stock market weakness late last week caused investors to ask whether the long-awaited market pullback may be at hand. This week, we review the drivers of the market’s impressive rally back to the break-even point for the year, share our thoughts on whether the gains are justified, and take a look at some timely data for clues on the state of the economic recovery.

UP AND DOWN WEEK

We have been expecting this rally to take a breather since COVID-19 cases began to accelerate in June and some reopenings in Sunbelt and California hotspots were rolled back to combat the spread of the virus. The S&P 500 Index fell 1.2% on July 23 after solid gains the first part of that week...

Download the complete PDF with graphs here.

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Susan Jerris

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