The AP on the Street 52nd week of 2022

The AP on the Street

The AP on the Street 52nd week of 2022

Happy New Year to our beloved followers!

The last week of 2022 was relatively neutral, and the indexes went sideways. Unfortunately, the Santa Claus Rally did not really happen, but there is still a small chance for it in the first two days of January.

We have the Unemployment rate and Services PMI this week. So, let’s take a look at what happened last week:
  • Markets were closed on Monday for Christmas break.
  • China announced that it would end the quarantine measures on January 8.
  • Coinbase stock fell to a new record low.
  • Cathie Wood ARK Innovation ETF fell to its lowest level since February 2017.
  • Tesla stock tumbled around 11%, reaching the lowest level since August 2020.
  • US Pending Home Sales went down -4.0% month-on-month —3.2% worse-than-expected.
  • Goldman Sachs CEO David Solomon said the staff cuts are coming in the next months.
  • US Jobless Claims came as expected.
  • S&P 500 fell around 20% in 2022, the biggest annual loss since the 2008 financial crisis.
  • Elon Musk became the first person ever to lose $200 billion.
Overall Market Indexes & Commodities Moves (Weekly)

DOW = -0.3%
S&P 500 = 0.1%
NASDAQ = -0.1%
RUSSELL 2000 = 0.5%
Gold = 0.7%
Silver = -0.1%
Oil = 0.8%

The weekly performance of S&P 500 Stocks (since Monday was off, the calculation started on Tuesday).
The yearly performance of S&P 500 Stocks

Performance of our strategies (this year):


Important data/ decisions that will be published next week:

The unemployment rate, JOLTS, Services PMI

The last week was pretty much normal for the investors. We will enter the new year quite fast with lots of important data. We will see how the market behaves this year and particularly this week.

Happy New Year!