FINANCIAL BLOG

Bank lending rarely commands the attention that payrolls, inflation or consumer spending do. But it helps determine how much momentum the economy can sustain.

LPL Research examines rising government debt costs, Treasury market stress, and what investors should watch as higher rates reshape the fiscal outlook.

A taller wall of worry. Stocks continue to climb a wall of worry, a wall that has gotten a bit taller as fall begins. The conflict in the Middle East, higher interest rates, and questions surrounding the enormous artificial intelligence (AI) capital spending boom all present legitimate risks for investors.

LPL Research analyzes S&P 500 margin expansion, assessing how much is structural versus cyclical and what that means for future earnings forecasts.

With so much attention focused on what the Fed might do at its policy meeting this week, it’s a good time to look back at history to get a sense of how stocks might respond should policymakers hike rates as the market now expects.

LPL Research analyzes rising U.S. debt, Treasury yields, and fiscal trends, highlighting implications for markets and investors.

LPL Research explores why value stocks are outperforming, how free cash flow drives returns, and the impact of AI spending on markets.

LPL Research explores how strong earnings growth, AI-driven profits, and rising estimates are supporting stocks despite pressure from higher interest rates.

Global business activity is showing signs of stabilization, but beneath the surface, the world economy remains divided. Growth momentum has improved in several major developed economies, led by a stronger U.S. expansion and a tentative recovery in parts of Europe, while activity across several large emerging markets has cooled from the rapid pace seen earlier this year.

LPL Research outlines how a Fed on hold, strong reinvestment demand, and elevated yields create compelling opportunities in municipal bonds.

The S&P 500 settled a whirlwind July moderately lower but maintained healthy year-to-date gains. Just one month into the second half, some of our key market themes cited in LPL's Midyear Outlook 2026 wasted no time making themselves known.

Weekly Market Commentary Markets Blog LPL Research explores whether hyperscalers can generate attractive returns on massive AI investments through a framework focused on ROIC, growth, and capex. Market context: The first half of 2026 was a tale of two quarters for U.S. equity markets, as the S&P 500 experienced a drawdown of ~4.5% in the first quarter, followed by a ~15% rally in the second quarter. As investors look forward to the second half, the artificial intelligence (AI

LPL Research analyzes China’s declining crude imports, inflation risks, and the resilient U.S. economy driving above-trend growth.

Coming into 2026, we expected inflation to move closer to the Federal Reserve’s (Fed) 2% target, the Fed to cut rates by roughly 75 basis points (bps), and Treasury yields to drift lower.

A strong quarter across major indexes. The second quarter is winding down and what a quarter it has been with the S&P 500 up 12.6% quarter to date, while the Nasdaq-100 and Russell 2000 are both up over 20%. Despite some twists and turns, the path of least resistance for stocks broadly remained up and to the right for much of the last three months.

LPL Research examines Warsh’s evolving Fed approach, infrastructure-led growth, and the impact of China demand on oil prices.

The U.S. initial public offering (IPO) market appears to be entering one of its most consequential periods in years. After a long drought following the 2021 issuance boom, a healthier macro backdrop, improved risk appetite, and a long queue of mature private companies have reopened the new-issue window.

LPL Research analyzes bond markets as yields rise, exploring Fed policy expectations, inflation trends, and whether bad news is already priced into Treasuries.

We agree with the consensus view that stock valuations are elevated by traditional measures. But valuations should be considered in the context of the economic regime and earnings environment.

LPL Research explores opportunities in agriculture as supply risks and fertilizer constraints reshape commodity markets and support potential gains.