Outlook 2020
Hindsight is 20/20, but finding clarity in future uncertainty can be fuzzy.
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.
Read more about our forecasts and key themes in the full publication.
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IMPORTANT DISCLOSURES
This material is for general information only and is not intended to provide specific advice or recommendations for any
individual. The economic forecasts may not develop as predicted. Please read the full Outlook 2020: Bringing Markets Into
Focus publication for additional description and disclosure. This research material has been prepared by LPL Financial LLC.
Tracking # 1-921932 (Exp. 12/20)