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Janney Montgomery Scott chief investment strategist Mark Luschini shares his insight on the forecast of the market into 2023 on ‘Maria Bartiromo’s Wall Street.’
Markets in the U.S. will pause on Monday to observe the New Year holiday.
Investors and traders will take a breather after a brutal 2022 in the markets.
There will be no trading of stocks or Treasuries as the equity and bond markets will be closed.
Futures markets in 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 City. (AP Photo/Mark Lennihan / AP Newsroom)
Futures will begin trading again on Monday at 6 p.m. ET.
U.S. stocks closed lower on Friday, rounding out the worst year for stocks since 2008 as investors wrestle with sky-high inflation and a recession that could deepen in 2023.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 33147.25 | -73.55 | -0.22% |
| SP500 | S&P 500 | 3839.5 | -9.78 | -0.25% |
| I:COMP | NASDAQ COMPOSITE INDEX | 10466.481665 | -11.61 | -0.11% |
The S&P 500 fell 9.78 points, or 0.3%, to finish at 3,839.50. The index posted a 5.9% loss for the month of December.
The Dow dropped 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 at the New York Stock Exchange. (AP Photo/Seth Wenig / AP Newsroom)
TECH STOCK BOUNCE PART OF ‘SEASONAL PATTERN’, INVESTORS PIN HOPES ON 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 2022 PERFORMANCE ‘BUILT ON DOWNFALL OF OTHERS’
Oil closed Friday around $80, about $5 higher than where it started the year. However, in between 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 Communication Services fell the furthest, by around 37% and 40%, respectively.
The Associated Press contributed to this report.
