Weekly Market Wrap: Stocks finished the year slightly lower last week as traders continue to question how long the Fed will need to raise rates to fight inflation.
For The Week
- The S&P 500 slipped 0.14% to 3,839.50
- Oil rose 0.88% to $80.26
- Gold added 1.38% to $1,829.80
- The US dollar shed 0.80% at $103.50 against other major world currencies.
2022 Year-To Date for the major indexes:
- The S&P Index -19.44%
- The Dow Jones Index -8.78%
- The NASDAQ Index -33.10%
- The Russell 2000 Small Cap Index -21.56%
- EAFE International Index -16.57%
- 10 Year Treasury Yield is 3.86%, higher for the week and higher for the year
- 30 Year Treasury Yield is 3.95%, higher for the week and higher for the year
- WTI Crude Oil Index +6.21%
- Bloomberg Gold Index -0.08%
- The Dollar Index +8.27% against other major world currencies

Monday the markets were closed.
Tuesday stocks fell 16 points on light volume as FHFA home prices rose and Shiller home prices rose and beat expectations.
Wednesday the S&P 500 dropped 46 points on light volume as pending home sales sell and missed estimates.
Thursday stocks rallied 66 points on light volume as jobless claims rose more than expected and continuing claims were higher.
Friday the S&P 500 lost 10 points on light volume as Midwest manufacturing rose and beat expectations.
Mortgage rates were higher last week. The national averages as reported by Bankrate.com indicate a 15-year rate of 6.03% and a 30-year rate of 6.68%. These rates are as of 1/02/2023 and may include points.
What to watch for on the economic calendar this week:
Monday – Markets Closed – Happy New Year!
Tuesday – Construction Spending
Wednesday – Mortgage Applications / ISM Manufacturing
Thursday – Jobless Claims / ADP Employment
Friday – December Payrolls / Factory Orders / ISM non-manufacturing
Ronald J. VanSurksum, CFP®
Advanced Asset Management, LLC
January 2, 2023
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