Market Week: December 27, 2022
The Markets (as of market close December 23, 2022)
Stocks ended a turbulent week generally lower as investors digested the latest inflation data and the Federal Reserve’s possible response. Of the benchmark indexes listed here, only the Dow and the Global Dow managed to eke out gains by the end of last week. Inflation rose by only 0.1% in November, according to the latest data from the Bureau of Economic Analysis (see below). Investors are hoping this is the latest sign that inflationary pressures have peaked, which could influence the Fed to scale back its interest-rate hikes. However, news that China is experiencing another surge in COVID cases could prompt more government-imposed lockdowns, which would impact the global economy. Ten-year Treasury yields advanced the most since early April. The dollar edged lower, while gold prices climbed higher. Crude oil prices increased for the second week in a row, nearing $80.00 per barrel.