Address

Precise Investors

Monday, January 30, 2023
Stocks & Shares

S&P 500 up as Wall St heads into final trading days of 2022

S&P 500

Dow Jones Industrial Average futures declined fractionally, losing 8 points, while S&P 500 and Nasdaq 100 futures climbed 0.12% and 0.28%, respectively

S&P 500 futures rose slightly on Wednesday night, as investors head into the final trading days of 2022.

Dow Jones Industrial Average futures declined fractionally, losing 8 points. S&P 500 and Nasdaq 100 futures climbed 0.12% and 0.28%, respectively.

The action follows a broad sell-off during the regular session Wednesday as recession fears weighed on investor sentiment in a losing week, month and year. The Dow Jones Industrial Average lost 365.85 points, or 1.1%. The S&P 500 fell 1.2%, while the Nasdaq Composite dropped 1.35%.

The major averages are headed toward their worst year since 2008. The Dow has lost 9.5%, while the S&P 500 shed 20.6%. Meanwhile, the Nasdaq is the worst performer, down 34.7% as investors dumped growth stocks.

Investors are anticipating an economic recession to materialize early in 2023, as evidenced by the three quarters of projected S&P 500 earnings declines and continued defensive sector leanings, Sam Stovall, chief investment strategist at CFRA Research, wrote in a Wednesday note. The severity of the recession remains in question. We expect it to be mild.

On Thursday, traders are expecting the latest data on weekly jobless claims before the bell. Economists surveyed by Dow Jones are forecasting initial jobless claims to total 223,000 for the week ended Dec. 24, a rise from 216,000 during the previous period.

European markets retreated on Thursday as caution returned to global stocks, with investors assessing a number of likely headwinds in 2023.

The pan-European Stoxx 600 index was down 0.5% in early trade, with food and beverage stocks shedding 1% to lead losses as almost all sectors and major bourses slid into the red.

Important:

The articles are for information purposes only and Precise Investors shall not be held responsible for any errors, omissions or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date.

Precise Investors does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this website, or losses or damage you may incur doing so.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Please remember that investments of any type may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

Leave a Reply