Company / Analytics

Analytics, 18 December 2022

Week 50 in Brief

North America

Stocks in the US had yet another bad week as Wall Street saw stocks drop for a third straight session on Friday and suffered a second straight week of losses. This was after the US federal reserve’s decision to raise interest rates by 50 basis points as fears continued to mount that the fed’s campaign to arrest inflation would tilt the economy into a recession. The central bank went forward to signal even more policy tightening in 2023 and provided projections that interest rates would top the 5% mark in 2023, a level not seen since 2007.

How did the major indices perform?

On Friday:

For the week:

What drove the U.S. market?

How did the European markets perform?

How did Asian markets perform?

Bonds and Commodities


Next week

A bill to fund the government through the end of the current fiscal year is expected to pass Congress next week, after the U.S. Senate passed a record $858 billion annual defense bill and stopgap spending bill to extend current government spending levels by a week, giving negotiators more time to pass a full-year deal.

The U.S. housing market will also be in the spotlight, with the NAHB Housing Market Index due for release on Monday, followed by housing starts and building permits on Tuesday. Data on new and existing home sales for November will be released later in the week. On Friday, the Bureau of Economic Analysis (BEA) will issue the Personal Consumption Expenditures (PCE) Price Index for November—the Federal Reserve’s preferred gauge of inflation. Companies reporting earnings next week will include Carnival Corporation, Nike, General Mills, FedEx, Micron Technology, and CarMax, among others.

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