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Experts offer their insights on the U.S. and global markets.

Successful investing begins with being informed. Read the insights of top Schwab professionals and keep up with the daily flux of the stock market.

US Market Commentary

Market Commentary

2021 Global Outlook: New Cycle, New Leadership

by Jeffrey Kleintop
November 23, 2020

As 2020 draws to a close, economic momentum is fading with infection rates on the rise, governments responding with more lockdowns, and few prospects for any major near-term fiscal stimulus. However, the global economy has the potential to make a full recovery in 2021, rebounding from the -4.4% decline in 2020 with growth of +5.2% in 2021, according to current estimates from the International Monetary Fund (IMF).

Election 2020

Changes: Vaccine News Changing Market’s Leadership Characteristics?

by Liz Ann Sonders
November 16, 2020
Recent positive COVID-19 vaccine may represent a light at the end of the tunnel; but the resurgent virus means we’re still in the darkest part of the tunnel.
Schwab Market Perspective: Vaccine News Improves Outlook
Market Commentary

Schwab Market Perspective: Vaccine News Improves Outlook

by Liz Ann Sonders, Jeffrey Kleintop, Kathy Jones
November 13, 2020
Actual third-quarter earnings may be less important than what business leaders say about their expectations.
Election Day to Inauguration Day: a test for global stock markets
Market Commentary

Election Day to Inauguration Day: a test for global stock markets

by Jeffrey Kleintop
November 9, 2020
Stock market performance during the transition period between outgoing and incoming U.S. presidents tends to be more dependent on the economic cycle than the election results.
Still the Same: Fed Keeps Monetary Policy Steady
Market Commentary

Still the Same: Fed Keeps Monetary Policy Steady

by Liz Ann Sonders
November 5, 2020
The Fed did not add to this week’s uncertainties and kept rates unchanged, while also providing no new information with regard to its balance sheet.
Too Much: Market Succumbed Again to Trifecta of Virus, Fiscal Relief and Election Uncertainty
Market Commentary

Too Much: Market Succumbed Again to Trifecta of Virus, Fiscal Relief and Election Uncertainty

by Liz Ann Sonders
November 2, 2020
Last week ended with the S&P 500 having its worse week since March; amid surging virus cases and election uncertainty. Is the worst over?
“De-globalization” Already Happened And It Didn’t Matter
Market Commentary

“De-globalization” Already Happened And It Didn’t Matter

by Jeffrey Kleintop
October 26, 2020
In 2020, politics and the pandemic have led to a lot of speculation that they could bring about an end to the rise of globalization—yet that began over a decade ago.
Mixed Emotions: Sentiment Telling Divergent Stories
Market Commentary

Mixed Emotions: Sentiment Telling Divergent Stories

by Liz Ann Sonders
October 19, 2020
Investor sentiment is telling a mixed story about the market’s ascent since the March low; begging the question, will the skeptics converge with the optimists?
Global Impact of a “Blue Wave” Election Outcome
Market Commentary

Global Impact of a “Blue Wave” Election Outcome

by Jeffrey Kleintop
October 12, 2020
The potential economic and market impacts a “Blue Wave” for the U.S. election could have on five key areas: taxes, labor, the environment, oil and trade.
Election Blues: Looking at Election History for Market Guidance
Market Commentary

Election Blues: Looking at Election History for Market Guidance

by Liz Ann Sonders
October 5, 2020
With investors already on edge regarding election uncertainty, an “October surprise” arrives yet again. Can history provide some guidance on how elections impact markets?
Risk of Second Wave of COVID-19 Lockdowns
Market Commentary

Risk of Second Wave of COVID-19 Lockdowns

by Jeffrey Kleintop
September 28, 2020
The biggest political risk facing investors may be the potential for politicians to implement national lockdowns in response to a rise in new COVID-19 cases that could lead to renewed recession and a new bear market for stocks.
Brexit Is Back: The Endgame For Investors
Market Commentary

Brexit Is Back: The Endgame For Investors

by Jeffrey Kleintop
September 14, 2020
The risk of a “no deal” Brexit and the potential economic harm that accompanies it increased last week.
Stock Market “Inequality” Hides A Big Change
Market Commentary

Stock Market “Inequality” Hides A Big Change

by Jeffrey Kleintop
August 31, 2020
The recent imbalances in the stock market can lead to vulnerability; rebalancing portfolios may be valuable to help balance exposure to U.S. capitalization-weighted benchmarks relative to international stocks.
Confidence Is Everything: 3 Things May Shake It
Market Commentary

Confidence Is Everything: 3 Things May Shake It

by Jeffrey Kleintop
August 17, 2020
Confidence matters; faith in a brighter future drives risk taking, fueling growth through investment and consumption.
Market Commentary

How Have Recent Developments Impacted Long-Term Returns?

by Jeffrey Kleintop
August 3, 2020
Let’s take a look at how recent developments may have impacted long-term returns for stock market investors.
Stock Market Reaction to Expiring COVID-19 Programs
Market Commentary

Stock Market Reaction to Expiring COVID-19 Programs

by Jeffrey Kleintop
July 20, 2020
If not extended or replaced, the fading support for the unemployed raises the risk of weakening economic momentum, turning the V-shaped recovery into a W.
Making Sense Of The Market (And Where We Can’t)
Market Commentary

Making Sense Of The Market (And Where We Can’t)

by Jeffrey Kleintop
July 6, 2020
In order to help try to make sense of it all, let’s take a look at where the stock market makes sense right now and where it doesn’t.
What A COVID-19 Second Wave Means For Investors
Market Commentary

What A COVID-19 Second Wave Means For Investors

by Jeffrey Kleintop
June 23, 2020
A second wave of global COVID-19 is getting a lot of media attention, but the appearance of a global second wave of cases is primarily driven by the different timing of first waves across countries—rather than second waves within countries.
2020 Mid-Year Outlook: U.S. Stocks and Economy
Market Commentary

2020 Mid-Year Outlook: U.S. Stocks and Economy

by Liz Ann Sonders
June 15, 2020
The divergence between the stock market and economy has characterized the past few months; with a convergence possible in the second half of the year.
Market Commentary

What’s Wrong With the Rebound?

by Jeffrey Kleintop
May 26, 2020
Cyclicals typically lead the market higher when stocks rebound from a bear market and recession—but not this time.

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