2022 Bear market worse than 2008 losses

Published Tue 03 Jan 2023 03:30 by Market Analyst

Last Week’s Risers & Fallers:

S&P 500 (US500) – The S&P 500 lost 19.4% or $8 billion in market cap for 2022. It was the stock market’s worse decline since 2008. The S&P500 closed at 3,839.50 on Friday.

Meta Inc. (NASDAQ: META) – Meta stocks rose slightly with 0.07% on Friday. The company lost 64.45% in stock value for the past year. Meta Inc. closed at $120.34.

Tesla Inc. (NASDAQ: TLSA) – Tesla stock increased 1.12% on Friday, reaching $123.18 per share. The company’s stock price declined 65.03% over the past year.

Crude Oil – Crude Oil kept rising this week, gaining a further 2.69% on Friday, trading at $80.51 per barrel. The energy sector has been predominantly bullish in 2022, attributed to the global supply issues, rising inflation, and the Russia-Ukraine war.

Significant events to watch:

UK (GBP) – Manufacturing PMI – The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. The last PMI was 44.7, worse than the forecast of 46.5.

The report is due Tuesday, 3 January, at 09:30 GMT.

GERMANY (EURO) – GERMAN CPI (YOY) – The German Consumer Price Index (CPI) measures the changes in the price of goods and services purchased by consumers. Germany’s CPI is at 10.0%.

The report is due Wednesday, 4 January, at 13:00 GMT.

USA (USD) – US Nonfarm Payrolls – Nonfarm Payrolls measure the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the leading indicator of consumer spending, which accounts for most economic activity. The last NFP was 263K, better than the forecast of 200K.

The report is due Friday, 5 January, at 13:30 GMT.

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