Global Business Week: Best & Worst Performing Sectors in the U.S stock market in 2022
<p>The rally that investors had been expecting in the latter part of December finally came to wrap up the first trading week of 2023. U.S. stocks skyrocketed as the NFP report showed wage growth slowed in December, suggesting inflation may be easing enough to allow the Fed to back off its aggressive efforts to control it. Having said that most of the Feds’ comments this week suggested that there isn’t going to be any monetary policy pivot coming this year. Nevertheless, the investors took all three stock indices to post gains in excess of 2% on Friday.</p>
<p>U.S. Treasury yields and the dollar fell sharply after December’s employment report showed strong hiring and a historically low jobless rate combined with cooling wage growth and the Institute for Supply Management’s services gauge showed a greater-than-expected slowdown. Investors went on a bargain hunt as they believe the Feds' rate hikes are successfully slowing down inflation. Dow and S&P 500 closed up 1.5% for the week while the Nasdaq inched up by 1%. Next week, investors will be eyeing the important U.S. CPI data to confirm their inflation narrative.</p>
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