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Outlook 2020 I Bringing Markets Into Focus

Outlook 2020 I Bringing Markets Into Focus

| December 30, 2019

We are pleased to announce the release of the LPL Research Outlook 2020: Bringing Markets Into Focus, filled with investment insights and market guidance for the year ahead.  

AS 2019 DRAWS to a close, the U.S. economy is still exhibiting some positive fundamentals despite trade uncertainty and slowing global growth. Consumer spending remains strong, supported by low unemployment, steady wage growth, contained inflation, and low interest rates. At the same time, the age of the economic expansion has led to questions about how long it can continue. U.S. manufacturing weakness has become more pronounced. Signals from the global bond market are confusing. Earnings growth has stalled in the United States and internationally, and due to heightened geopolitical risks that must continue to be monitored, companies are lacking the visibility they need to make sound decisions about long-term investments. Clarity on trade needs to come sooner rather than later, as we prepare for a highly charged and likely divisive U.S. presidential campaign. We can’t see into the future, but we hope this guide can help improve your view into the new year.Welcome to 2020.


AT LPL RESEARCH, as we look forward to the year 2020 and a new decade, some key trends and market signals will be important to watch,
including progress on U.S.-China trade discussions, an encouraging outlook from corporate America, and continued strength in consumer spending.

Trade risk, slower global growth, and the impeachment inquiry have garnered a lot of the headlines recently,
but behind the scenes the U.S. economy has remained resilient. Economic data has been meeting lowered expectations,
indicating an expansion that is still enduring. Most recently, third quarter economic growth was consistent with
the long-term trend of this current economic expansion, which is now more than 10 years old.

We expect the U.S. economy to continue to grow in 2020 and support gains for stocks, although we are increasingly mindful of our position in the business cycle.
At some point in the future, this record-long expansion will come to a close, leaving investors wondering what’s next. Against this backdrop,
questions about the next potential recession and the 2020 U.S. presidential election continue to be top of mind for many investors.
While we can’t see into the future, one thing we can predict is that uncertainty in the markets is here to stay. And we are here to help.
We offer our Outlook 2020, your guide to preparing for this dynamic—
and uncertain—market environment.