Market Analytics and Considerations
Key Notes
In the final session of 2022, U.S. markets slightly declined as stocks were headed toward their worst year in over fifteen years.
As of 09:56 ET (14:57 GMT), the Dow Jones Industrial Average were down 260 points, at 0.78%, at 32,960.53, while S&P 500 was off 34 points, or 0.89%, with 3,815.20, as well as the heavily weighted NASDAQ Composite was lower 115 points, and 1.10%, at 10,363.32.
Intense Federal Reserve hikes in interest rates and stubbornly high inflation have been two of the headwinds that have hurt stocks this year, which will come to an end with Friday’s session. A three-year streak of yearly advances would be broken if any of the 3 key indexes experience their biggest yearly losses since 2008, which is currently expected to happen.
The Dow has come out somewhat ahead of all the other indexes in terms of overall performance. It is projected to decline by less than 9% in 2022, compared to the S&P 500’s over 20percentage – point decline during the previous year. The current era of severe drops in technology stock prices as they struggled with rising cost of borrowing and supply chain issues is reflected in the NASDAQ’s drop of more over 33%.
The NASDAQ is likewise on track to have its 4th successive negative quarter. The Dow and S&P 500 are on course to end three consecutive quarters of falls.
One of the top performers in the market for individual stocks is Southwest Airlines (NYSE:LUV), which hopped into the green zone after U.S. Transportation Secretary Pete Buttigieg said the Biden regime will hold the carrier “responsible” if it continues to fail to uphold obligations to passengers for “manageable cancellations and delays. After thousands of disruptions in the week, the airline anticipates operating a regular flight schedule on Friday.
Additionally, Kala Pharmaceuticals (NASDAQ:KALA) saw a gain of more than 28percentage points following the FDA’s approval of the company’s petition to create a brand-new medication that combats chronic corneal epithelial deficiency, an eye condition.
Conversely, after China’s securities watchdog forbade the online brokerage from creating new accounts involving clients on the Chinese mainland, shares of Futu Holdings Ltd (NASDAQ:FUTU) dropped over a fourth of their worth. Futu, which is supported by Tencent, was accused by officials of operating illegally and without authorization in the international securities market.
Friday’s economic figures release cycle was sparse, but it is expected to build up a little bit the following week with the release of the most current non-farm payrolls statistics on January 6. The New Year’s Day holiday will be celebrated by the closure of the financial markets on Monday.
