Market Analytics and Considerations
Key Notes
As traders wait for this week’s release of the Federal Reserve’s most recent meeting’s notes, U.S. stocks had quite a slow begin to the new year.
The Dow Jones Industrial Average was down 46 points, or 0.1%, by 11:07 ET (16:07 GMT), whereas the S&P 500 and the NASDAQ Composite had each off 0.3% and 0.6%, respectively.
Interest rates increased throughout the entire year, putting pressure on and when growth and large tech stocks, and equities concluded 2022 with their poorest performance until 2008.
The tech-heavy Nasdaq plummeted 33percentage points the year before, while the S&P dropped more than 19%.
Traders are anxious to look back on the year, and they are hopeful that this week’s economic statistics will help them do so. The December employment data is coming on Friday, and manufacturing statistics is anticipated this week along with the Fed notes.
When the Fed meets again in February, the market anticipates it to increase its policy interest rate by a quarter of a percent point, which would be a lower level than earlier rate increases although would still be on an upward trend.
Tesla Inc. (NASDAQ:TSLA) disclosed relatively low deliveries for the quarter and for the year, that has sent its stock down more than 11percentage points on Tuesday and 65percent for 2022.
The likelihood of Macau, China’s gambling paradise, resuming following closures and limitations due to COVID was driving up casino stock prices. Shares of Wynn Resorts Limited (NASDAQ:WYNN) rose 3.4%, whereas those of Las Vegas Sands Corp (NYSE:LVS) rose 2.8%.
Dropping oil WTI crude oil futures fell 1.7% to $78.91 per barrel, while Brent oil futures fell 1.8% to $84.39 per barrel. At $1,835, gold futures were higher 0.5%.
