ClearWater Market Commentary as of January 13th, 2023
Stocks recorded a second consecutive week of gains as investors weighed key inflation data and quarterly earnings reporting season kicked off in earnest on Friday.
Stocks recorded a second consecutive week of gains as investors weighed key inflation data and quarterly earnings reporting season kicked off in earnest on Friday.
A Friday rally following an encouraging jobs report left the major indexes with a gain to start the year. The S&P 500 Index also continued to move within a relatively tight band compared with most of 2022, with the index staying between 3,764 and 3,906 since December 16.
Intensified fears over rising interest rates pushed the S&P 500 Index lower for a second consecutive week and to levels last seen in early November.
Stocks gave back much of the previous two weeks’ gains, as some surprisingly strong economic data dampened hopes that the Federal Reserve might soon be able to curb its program of raising interest rates to cool inflation.
The major U.S. equity indexes ended higher, buoyed by the possibility that the Federal Reserve may slow the pace of its interest rate increases.
Most of the major indexes gave back a portion of the previous week’s strong gains and closed modestly lower.
The major indexes recorded strong gains as investors celebrated reassuring inflation data and bond yields fell. The S&P 500 Index recorded its best week since June and hit its best intraday level in two months.
Stocks fell after the Federal Reserve dashed market hopes for an impending pivot in monetary policy in the form of a pause or slower pace of rate hikes. The technology-heavy Nasdaq Composite Index was hit particularly hard as growth stocks declined more than value companies.
Stocks rose but offered widely divergent returns for the week, as investors reacted to a busy calendar of third-quarter earnings reports.
Calgary Alberta
610-703 6th Ave SW Calgary, AB
T2P 0T9
Join our Weekly Newsletter! We promise we won’t spam.
© Copyright All rights Reserved. ClearWater, like all providers of personal financial services is required by law to inform their clients of their policies regarding privacy of client information. The information in this material is not intended as tax or legal advice. ClearWater is a registered business in ALBERTA. Provided content is for informational purposes only. Website Designed and Created by SWOON Creative Media.
ClearWater Market Commentary as of January 20th, 2023
The major indexes ended mixed for the week as recession fears appeared to weigh on sentiment. The narrowly focused Dow Jones Industrial Average performed worst and gave back a portion of its strong rally in the first two weeks of the year, while the technology-heavy Nasdaq Composite recorded a modest gain.