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Market Update: Wed, Apr 10, 2019

Market Update: Wed, Apr 10, 2019

| April 10, 2019
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Market Update: Wed, Apr 10, 2019 | LPL Financial Research


Daily Insights

ECB left interest rates unchanged. In a surprise to no one, the European Central Bank (ECB) left rates unchanged and reiterated its plans to hold rates through 2019. The deposit rate stands at -0.4%. Trade uncertainty and Brexit are among the primary concerns for the central bank, which has reportedly discussed plans to provide more stimulus if economic growth in the region doesn’t improve later this year. Discussions on unintended consequences of negative rates are ongoing.

Fed meeting minutes preview. With the minutes of last month’s monetary policy meeting due out this afternoon, investors will look for further insight regarding the Federal Reserve’s (Fed) likely intentions over the balance of the year after it lowered rate-hike expectations from two to zero, and announced that it will start tapering the runoff of its balance sheet.

Core inflation data supports Fed policy shift. The core Consumer Price Index for March rose 0.1% from the prior month and 2.0% from a year earlier. Both measures were below expectations, though a change in data collection methods for apparel led to a 1.9% month-over-month decline in the component. Though not its preferred inflation gauge, the data provide some additional support for the Fed after it hit the brakes on its rate-hike campaign at last month’s meeting.

December Low Indicator has bulls smiling. After the best first quarter for the S&P 500 Index since 1998, the big question is: What happens next? According to the December Low Indicator, which has a perfect track record going back to 1950, we may be in for more gains over the balance of the year. We’ll explain later today on the LPL Research blog.


Click Here for our detailed Weekly Economic Calendar


  • CPI Report (Mar)
  • FOMC Meeting Minutes (Mar)
  • UK Industrial Production (Feb)
  • European Central Bank Rate Decision (Apr)
  • China CPI Report (Mar)
  • China PPI Report (Mar)
  • China Foreign Direct Investment (Mar)


  • PPI Report (Mar)
  • Initial Jobless Claims (Apr. 6)
  • Germany CPI Report (Mar)
  • China Exports (Mar)
  • China Trade Balance (Mar)
  • China Imports (Mar)


  • Import Price Index (Mar)
  • Export Price Index (Mar)
  • University of Michigan Sentiment Index (Preliminary, Apr)
  • Eurozone Industrial Production (Feb)


The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual security. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing. The economic forecasts set forth in this material may not develop as predicted.

All indexes are unmanaged and cannot be invested into directly. Unmanaged index returns do not reflect fees, expenses, or sales charges. Index performance is not indicative of the performance of any investment.

Investing involves risks including possible loss of principal. No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments.

All company names noted herein are for educational purposes only and not an indication of trading intent or a solicitation of their products or services. LPL Financial doesn’t provide research on individual equities.

All performance referenced is historical and is no guarantee of future results.

This research material has been prepared by LPL Financial LLC.

To the extent you are receiving investment advice from a separately registered independent investment advisor, please note that LPL Financial LLC is not an affiliate of and makes no representation with respect to such entity.

The investment products sold through LPL Financial are not insured deposits and are not FDIC/NCUA insured.  These products are not Bank/Credit Union obligations and are not endorsed, recommended or guaranteed by any Bank/Credit Union or any government agency.  The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

Index data obtained via FactSet


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