S&P 500 Opens Flat to Kick off Final Trading Week of the Year

Tiger Newspress2022-12-27

The S&P 500 opened flat Tuesday as the final trading days of 2022 kicked off. Investors deliberated over whether a Santa Claus rally will appear and lift a market weighed down by recession fears.

The Dow Jones Industrial Average last traded 20 points higher, or 0.05%. The S&P 500 traded flat, while the Nasdaq Composite shed 0.3%.

China-linked stocks rose premarket as the country eased Covid restrictions. Tesla slumped on news of an extended production pause, while Southwest shed 4% as the airline canceled thousands of flights.

Stocks are headed for their worst yearly performance since 2008 and another down month. In December, the S&P 500 dropped roughly 5.8%, while the Dow and Nasdaq dropped about 4% and 8.5%, respectively. These are the biggest monthly declines since September.

After a brutal year consumed by inflation and recession fears, investors are hoping to cap off 2022 on a positive note. Friday kicked off the period for a Santa Claus rally, which is typically considered the final five-day trading stretch in the current year, as well as the first two trading days in the new year.

Markets were closed Monday for the Christmas holiday, but in this shortened trading week, investors are expecting either relative quiet or further volatility due to low trading volumes.

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Comments

  • Seah CL
    2022-12-28
    Seah CL
    K
  • Seah CL
    2022-12-28
    Seah CL
    K
  • Seah CL
    2022-12-28
    Seah CL
    K
  • HawTK
    2022-12-27
    HawTK
    Good 
  • Cedric77
    2022-12-27
    Cedric77
    Adapted from SSW - Asian equity markets rose Tue as Beijing announced that China will end quarantine requirements for inbound travellers on 8 Jan 2023, boosting regional sentiment in holiday-thinned trading. Equities in Japan, South Korea, mainland China & SG advanced, while mkts in Australia and HK remain tutup for the holidays. Futures contracts for US and European equities rose Tue. 
  • Vincentan59
    2022-12-27
    Vincentan59
    🥶🥶🥶🥶
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