The markets and the New Year holidays
Janney Montgomery Scott investment strategist Mark Luschini shares his insights on the forecast for the market into 2023 on “Maria Bartiromo’s Wall Street.”
Markets in the US take a break on Monday to celebrate the New Year holiday.
Investors and traders will take a breather after a brutal 2022 in the markets.
There will be no trading in shares or government bonds which stock and bond markets will be closed.
Futures markets in shares, metals and energy will also be closed.
S&P 500 WRAPS WORST YEAR SINCE 2008
Wall Street, where the NYSE is located, in downtown New York City. (AP Photo/Mark Lennihan/AP Newsroom)
Futures will resume trading on Monday at 6 p.m. ET.
U.S. stocks closed lower on Friday, capping the worst year for stocks since 2008, as investors grapple with soaring inflation and a recession that could deepen in 2023.
| Ticker | Safety | Last | Change | Change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGE | 33147.25 | -73.55 | -0.22% |
| SP500 | S&P 500 | 3839.5 | -9.78 | -0.25% |
| In: COMP | NASDAQ COMPOSITE INDEX | 10466.481665 | -11.61 | -0.11% |
The S&P 500 fell 9.78 points, or 0.3%, to end at 3,839.50. The index showed a loss of 5.9% for the month of December.
The Dow fell 73.55 points, or 0.2%, to close at 33,147.25. The Nasdaq fell 11.61 points, or 0.1%, to 10,466.48.
A trader works on the floor of the New York Stock Exchange. (AP Photo/Seth Wenig/AP Newsroom)
TECHNICAL ACTION BOOST PART OF ‘SEASONAL PATTERN’, INVESTORS ARE HOPEFUL IN JANUARY
2022 Returns:
Nasdaq Composite: -33%
S&P 500: -19%
Dow Jones Industrial Average: -8.8%
Silhouette of working oil pumps (iStock/iStock)
S&P ENERGY SECTOR’S RECORD PERFORMANCE FOR 2022 “BUILDED ON OTHERS’ RESEARCH”
Oil closed Friday around $80, about $5 higher than where it started the year. However, oil jumped above $120, helping energy stocks post the only gain among the 11 sectors in the S&P 500, up 59%.
Consumer discretionary and communications services fell the furthest, with around 37% and 40% respectively.
The Associated Press contributed to this report.
