This week on LPL Market Signals, the strategists discuss implications of the Supreme Court’s tariff ruling and share LPL’s updated strategic asset allocation guidance. Stocks responded favorably to the tariff ruling during Friday’s session, locking in a solidly positive week for the S&P 500 and most global stock indexes.
Inflation is likely to run hotter in the near term, consistent with the ISM prices paid signal. December’s headline and core PCE each rose 0.4% month to month, pushing annual rates to 2.9% and 3.0%. Monthly readings need to edge closer to 0.1–0.2% to confirm a sustained move back toward target.
The strategists then offer eight takeaways for investors following the Supreme Court tariff ruling. Importantly, the U.S. tariff rate is likely to land only slightly below where it was before the ruling as the Trump administration pivots to other legal authorities. Still, trade policy uncertainty remains.
Next, the strategists explain the role valuations play in crafting LPL’s updated strategic asset allocation guidance. The strategists close with a quick preview of the week ahead, including wholesale inflation, the President’s State of the Union address, and NVIDIA’s earnings.
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