LPL Research

Manufacturing Muddles Through

U.S. manufacturing contracted in August for the first time since January 2016 as trade uncertainty continued to weigh on the sector.

Another Summer Storm

U.S. stocks have hit another trade-induced summer storm.

The S&P 500 Index fell 3% on Monday, its worst day since December 2018. The index is now about 6% from record highs in U.S. stocks’ worst bout of volatility since May.

Course Correction

Bonds have increasingly signaled that Federal Reserve (Fed) policy may be too tight for an economy tied up in a drawn-out trade dispute.

As shown in the LPL Chart of the Day, “Bond Market Increasingly Pricing in Rate Cuts,” fed fund futures are now pricing in almost three rate cuts by the end of 2019.

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