Ned Davis Research’s chief US strategist examines the stock market’s response around the holidays on “Making Money.”
Investors are ready this week to see if Christmas miracles really happen with hopes for a Santa Claus rally. So far, the Nasdaq is down 8.7% over the past month, while the S&P 500 and Dow are down 4.5% and 3.3%, respectively.
While Sam Bankman-Fried the next court date is not until January. On February 3, 2023, investors will nevertheless focus on FTX this week after co-founder Gary Wang and former Alameda Research co-CEO Caroline Ellison both pleaded guilty in federal court. Both cooperate with the authorities.
Initial public offerings this week could include biotech Coya Therapeutics, health technology Nava Health MD, wealth and asset manager Prestige Wealth and marine bunker facilities provider CBL International.
Sam Bankman-Fried leaves federal court in New York on Thursday, Dec. 22, 2022. The former CEO of FTX and Alameda was released on $250 million bail. (Charles Guérin/Abaca for Fox News Digital/Fox News)
BERNIE MADOFF’S LAWYER SAYS SAM BANKMAN-FRIED SHOULD ‘SHUT UP’
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| I: COMP | NASDAQ COMPOSITE INDEX | 10497.862896 | +21.74 | +0.21% |
| SP500 | S&P500 | 3844.82 | +22.43 | +0.59% |
| Me: DJI | DOW JONES AVERAGES | 33,203.93 | +176.44 | +0.53% |
Monday, December 26
The markets are closed on Mondays for Christmas. Here is some essential financial movements to be made before the end of the year.
tuesday 27 december
Tuesday brings economic data, including the Federal Housing Finance Agency’s monthly house price index, which is expected to fall 0.30% from last month but is still expected to rise 9.1% year on year. the other.
Last month, William Doerner, the supervising economist for the FHFA’s Research and Statistics Division, commented, “The rate of growth in US home prices has slowed significantly. This deceleration is widespread, with about one-third of all states and metropolitan statistical areas seeing annual growth below 10 percent.”
Tuesday will also see the Case-Shiller home price index. Observers expect the metric to drop 1.2% month-over-month. Home prices are falling as high mortgage rates deter buyers from entering the market. Mortgage rates remain nearly double what they were a year ago, despite falling for six consecutive weeks.
MORTGAGE RATES CONTINUE LOWER TREND, DOWN FOR SIXTH WEEK
To cope high inflation and higher costs, UPS will increase delivery charges on Tuesday. Investors will be watching this closely to see how elastic demand for shipping is.
Tuesday also marks the deadline for the certification of new versions of the Boeing 737 Max, the -10 and -7, and the retrofitting of existing planes; however, under the spending bill passed by the Senate last week, Boeing got an exemption and will no longer have to make security changes.
CONGRESS INCLUDES WAIVER FOR NEW BOEING 737 MAX JETS IN OMNIBUS EXPENSE BILL
The 737-10, the largest member of the 737 MAX family, will offer operators greater capacity, greater fuel efficiency and the best economy per seat of any single-island aircraft. (Boing)
CLICK HERE TO GET THE FOX BUSINESS APP
There are no expected earnings calls of note.
Wednesday, December 28
On Wednesday, TC Energy hopes to restart the Keystone pipeline after it closed in early December after having spilled 14,000 barrels of oil in a Kansas stream.
A remediation company deploys a dam on the surface of an oil spill after a Keystone oil pipeline burst at Mill Creek in Washington County, Kansas on Dec. 2, 2019. 8, 2022. Vacuum trucks, arrows and an emergency dam were built across the creek to intercept t (Kyle Bauer/KCLY/KFRM Radio via AP/AP Newsroom)
The Department of Energy’s deadline for bids to fill the Strategic Petroleum Reserve (SPR) will expire on Wednesday. President Joe Biden announced the release of 15 million barrels in October.
SpaceX should be launched two rockets on Wednesday. Both missions will use SpaceX Falcon 9 rockets. The first rocket will launch another batch of Starlink internet satellites destined for polar orbit, while the second rocket, which could launch Thursday instead, will launch the High Earth Imagery Satellite EROS C3 resolution for ImageSat International.
Egg producer Cal-Maine Foods will release its second-quarter budget results after the market close. The price of eggs has skyrocketed because of inflation,
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| CALM | Cal-Maine Foods Inc. | 64.63 | +1.55 | +2.46% |
Thursday, December 29
No notable results are expected for Thursday.
Economic data will include weekly unemployment insurance claims. Initial claims are expected to reach 220,000, while continuing unemployment claims are expected to remain around 1.67 million. The Energy Information Administration publishes its weekly report on the state of oil.
Friday, December 30
Friday will see the announcement of the results of the tender for the sale of oil and gas leases from the State of Alaska for the Cook Inlet region.
Last day of trading for 2022 will see the release of the Chicago Purchasing Managers Index, but no major earnings report
GET FOX BUSINESS ON THE ROAD BY CLICKING HERE
Fitz-Gerald Group Director Keith Fitz-Gerald and Leuthold Group IT Director Doug Ramsey discuss the extent of the stock market decline in 2023 as volatility increases, on “The Claman Countdown.”
0 Comments