The Turkish currency crisis is threatening an otherwise favorable EM outlook. Emerging market (EM) equities have experienced significant selling pressure this month amid the ongoing trade dispute between the U.S. and China and the crisis in Turkey, w

Productivity gains play an important role in economic output, and recent gains support an encouraging picture of the U.S. economy. Productivity, first and foremost, is a primary driver of gross domestic product (GDP) growth [Figure 1]. In the second

Second quarter earnings season was outstanding by many measures. The numbers were strong even without the boost from the new tax law, while guidance was generally positive despite tariffs and trade policy uncertainty. In this week’s commentary,

The bull market continues to defy the skeptics and is now nearing a major milestone. On August 22, 2018, this bull market can overtake the bull market of the 1990s as the longest ever. From tariffs to trade wars to inflation to a flattening yield cur

Last week we had the pleasure of joining just over 3,500 LPL advisors at our Focus 2018 national conference in Boston. Many of you reading this were likely among them. The conference is an excellent opportunity for us in the LPL Research department t

Active management may be poised for a comeback. During the past several years, it’s been difficult for active managers to outperform equity benchmarks. There are a number of reasons for that, including the strength of the market, market distort

Second quarter earnings season is underway and may be another good one. Consensus estimates are calling for a 21% year-over-year increase in S&P 500 Index earnings for the quarter, setting up a second straight quarter of 20% or higher growth and

Second Half Rally?

The current environment looks favorable for strong earnings and stock gains. We do expect volatility, but steady economic growth provides a strong backdrop and the potential for opportunity.

The first half of 2018 s

Capital investment is accelerating, a trend we believe should continue. One of the most encouraging aspects of the U.S. economy currently is that capital spending is accelerating just as some tailwinds are starting to kick in. As we discuss in this w

When will value have its day in the sun? The growth style’s historic run of outperformance has continued this year, despite the emergence of several drivers that have traditionally served as catalysts for value stock outperformance. Generally,