The Strategic and Tactical Asset Allocation Committee has upgraded its view of financials from negative to neutral, while the precious metals view goes from negative to positive.

The Strategic and Tactical Asset Allocation Committee maintains its overweight equities recommendation relative to bonds.

The Strategic and Tactical Asset Allocation Committee revised S&P 500 year-end fair value target of 4,000-4,100.

The Strategic and Tactical Asset Allocation Committee downgraded its view of emerging market equities from neutral to negative.

The STAAC Committee maintains its overweight equities recommendation relative to bonds for August based on the belief that near-term recession fears may be overdone.

The Strategic and Tactical Asset Allocation Committee (STAAC) changed its recommended asset allocation for July, shifting from core bonds to small cap equities.

The Strategic and Tactical Asset Allocation Committee (STAAC) made only minor asset allocation changes for June, including shifting from communication services to energy, which translated into a modest value tilt.

The Strategic and Tactical Asset Allocation Committee (STAAC) continues to recommend a slight overweight to equities versus bonds.

LPL Research continues to recommend a slight overweight to equities versus bonds as still-solid fundamentals outweigh pressure on valuations.

LPL Research continues to favor cyclical sectors in general for 2021 based on the early cycle stage of the economic expansion.