The Markets (as of market close January 7, 2022)
After beginning the week on a high note, stocks couldn’t maintain that momentum, ending the week in the
red. Following a record close on Monday, the S&P 500 ended the week down 1.9%, the worst start to a
year since 2016. Some investors may be concerned that the Federal Reserve will raise interest rates faster
than had been anticipated. The Nasdaq fell 4.5%, its worst week since February 2021. Treasury yields
continued to mount in anticipation of higher interest rates. While the December employment report showed
a slightly underwhelming 199,000 new jobs added, the unemployment rate fell to a pandemic-era low of
3.9%, possibly adding further fodder for the Fed to continue its hawkish bent.