Market Week: December 19, 2022
The Markets (as of market close December 16, 2022)
Wall Street saw stocks end last week lower as investors worried that the Federal Reserve’s push to slow rising inflation may lead the economy into a recession. Early in the week, investors were buoyed by softer-than-expected inflation data, which preceded the Fed’s expected 50-basis-point interest-rate hike. However, Federal Reserve officials were clear that interest rate increases will continue until it is evident that inflation has been controlled. After beginning last week on a high note, equities endured three straight days of losses. The Nasdaq, the Global Dow, and the S&P 500 each fell more than 2.0%. The Russell 2000 and the Dow also declined. Crude oil prices advanced, but remain subdued on recession fears. Ten-year Treasury yields slid lower by the end of the week. The dollar and gold prices dipped lower.