Janney Montgomery Scott, Chief Investment Strategist, Mark Luschini, shares his views on the market forecast through 2023 on “Maria Bartiromo’s Wall Street.”
Markets in United States will take a break on Monday to observe the New Year holidays.
Investors and traders will take a breather after a brutal 2022 in the markets.
There will be no trading in stocks or treasury bills because the equity and bond markets will be closed.
Futures markets for equities, 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. (AP Photo/Mark Lennihan/AP Newsroom)
Futures contracts will resume trading Monday at 6 p.m. ET.
US stocks closed lower Friday, capping the worst year for equities since 2008 as investors grapple with sky-high inflation and a recession that could worsen in 2023.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| Me: DJI | DOW JONES AVERAGES | 33147.25 | -73.55 | -0.22% |
| SP500 | S&P500 | 3839.5 | -9.78 | -0.25% |
| I: COMP | NASDAQ COMPOSITE INDEX | 10466.481665 | -11.61 | -0.11% |
The S&P 500 lost 9.78 points, or 0.3%, to end at 3,839.50. The index posted a loss of 5.9% for the month of December.
The Dow Jones lost 73.55 points, or 0.2%, to close at 33,147.25. The Nasdaq slipped 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)
TECH STOCK REBOUNDS IN PART OF ‘SEASONAL PATTERN’, INVESTORS HOPE IN JANUARY
Returns 2022:
Nasdaq compound: -33%
S&P 500: -19%
Dow Jones Industrial Average: -8.8%
Silhouette of working oil pumps (iStock/iStock)
S&P’S RECORD ENERGY SECTOR PERFORMANCE IN 2022 “BUILT ON THE FALL OF OTHERS”
Petroleum closed on Friday about $80, about $5 more than at the start of the year. However, in the meantime, oil surged above $120, helping energy stocks post the only gain among the 11 S&P 500 sectors, up 59%.
Consumer discretionary and communication services fell the most, down about 37% and 40%, respectively.
The Associated Press contributed to this report.