{"id":1791088,"date":"2022-12-31T07:34:58","date_gmt":"2022-12-31T12:34:58","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1791088"},"modified":"2022-12-31T07:35:26","modified_gmt":"2022-12-31T12:35:26","slug":"bidenomics-sp-500-down-nearly-20-in-2022-in-worst-year-since-2008","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenomics-sp-500-down-nearly-20-in-2022-in-worst-year-since-2008\/","title":{"rendered":"Bidenomics: S&#038;P 500 in 2022 down almost 20%, worst year since 2008"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenomics-sp-500-down-nearly-20-in-2022-in-worst-year-since-2008%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1791088&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div>\n<header class=\"LiveBlogHeader-articleHeader\" id=\"main-article-header\">\n<div class=\"LiveBlogHeader-headerContentContainer\">\n<div class=\"LiveBlogHeader-wrapperHeroNoImage LiveBlogHeader-wrapperHero LiveBlogHeader-wrapper LiveBlogHeader-wrapperNoImage\">\n<div class=\"LiveBlogHeader-timestampAndShareBarContainer\">\n<div class=\"LiveBlogHeader-timeHidden\"><time data-testid=\"lastpublished-timestamp\">Updated Fri Dec 30, 20225:23 PM EST<\/time><\/div>\n<div class=\"SocialShare-socialShare\" data-test=\"SocialShare\" id=\"social-buttons-transporter\"><span class=\"SocialShare-socialShareText\">Share<\/span><button class=\"SocialShare-socialShareButton\" data-test-pro=\"false\" data-test-ic=\"false\"><span class=\"SocialShare-socialShareLabel\">Share the article via Facebook<\/span><\/button><button class=\"SocialShare-socialShareButton\" data-test-pro=\"false\" data-test-ic=\"false\"><span class=\"SocialShare-socialShareLabel\">Tweet to Share the Article<\/span><\/button><button class=\"SocialShare-socialShareButton\" data-test-pro=\"false\" data-test-ic=\"false\"><span class=\"SocialShare-socialShareLabel\">LinkedIn: Share an article<\/span><\/button><button class=\"SocialShare-socialShareButton\" data-test-pro=\"false\" data-test-ic=\"false\"><span class=\"SocialShare-socialShareLabel\">Email to Share Article<\/span><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"FeaturedContent-articleBody\" id=\"LiveBlogArticle-featuredContent-3\" data-module=\"featuredContent\" data-test=\"featuredContent-0\" data-analytics=\"LiveBlogArticle-featuredContent-3-0\">\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107172594\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107172594\" class=\"PlaceHolder-smallMarginTop PlaceHolder-wrapper\" data-vilynx-id=\"7000279505\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107172753-1672432612021-movers_12-30.png?v=1672439203&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"Pro Picks: Watch all of Friday&#039;s big stock calls on CNBC\"   style=\"display:none\"><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Stocks dropped on Friday as Wall Street ended its worst year in eight years with a whimper.<\/p>\n<p>The Dow Jones Industrial Average lost 73.55 point, or 0.2%, to close at 33.147.25. S&#038;P 500 fell 0.25% to 3,839.50. The Nasdaq Composite dropped 0.11%, to 10,466.88.<\/p>\n<\/div>\n<div class=\"group\">\n<div id=\"LiveBlogArticle-DataWrapperChart\" class=\"DataWrapperChart-dataWrapperContainer\"><\/div>\n<\/div>\n<div class=\"group\">\n<p>Friday marked the end of a difficult year for stocks. The major averages all suffered their worst year since 2008, snapping a three-year winning streak. The Dow, which fell 8.8% in 2022 was the index that performed the best. The S&#038;P 500 fell 19.4% and is now more than 20% lower than its record high. Meanwhile, the tech-heavy Nasdaq plunged 33.1%.<\/p>\n<p>Investor sentiment was affected by persistent inflation and aggressive rate hikes by the Federal Reserve. Market volatility and geopolitical worries also kept them on edge.<\/p>\n<p>&#8220;We&#8217;ve had everything from Covid problems in China to the invasion of Ukraine. They&#8217;ve all been very serious. But for investors, it is what the Fed is doing,&#8221; Art Cashin, UBS floor operations director, spoke on CNBC&#8217;s &#8220;The Exchange.&#8221;<\/p>\n<p>Some investors believe the pain will continue as the year progresses. The bear market is expected to continue until a recession strikes or the Fed pivots. Others predict that stocks will fall to new lows, before rebounding in 2023&#8217;s second half.<\/p>\n<p>&#8220;I would love to tell you that it is going to be like the &#8216;Wizard of Oz&#8217; and everything is going to be in glorious color in a moment or two. I think we may have a bumpy first quarter, and depending on the Fed it may last a little longer than that,&#8221; Cashin said.<\/p>\n<p>Despite the annual losses, the Dow Jones and S&#038;P 500 did not lose three quarters in the last three months. However, the Nasdaq was dominated by Microsoft, Apple and Tesla, which managed to get through its fourth consecutive quarter of negative results for the first time since 2001. The December averages however are all negative.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"DataWrapperChart-dataWrapperContainer\"><\/div>\n<\/div>\n<div class=\"group\">\n<p>This year, communication services was the worst performing sector of the S&#038;P 500, with a drop of more than 40%. Consumer discretionary was next, but not as bad. Only energy saw an increase of 59%.<\/p>\n<p><em>\u2014 Gabriel Cortes contributed reporting<\/em><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/las-acciones-caen-el-viernes-marcando-el-peor-ao-de-wall-street-desde-2008.html\"><em>Lea la cobertura del mercado de hoy en espa\u00f1ol aqu\u00ed.<\/em><\/a><\/p>\n<p><em>Correction: The chart in this story has now been updated to reflect correct year-to-date declining of the Dow Jones Industrial Average.<\/em><\/p>\n<\/div>\n<\/div>\n<div class=\"LiveBlogBody-articleBody\" id=\"LiveBlogArticle-LiveBlogBody-4\" data-module=\"LiveBlogBody\" data-test=\"liveBlogBody-1\" data-analytics=\"LiveBlogArticle-liveBlogBody-4-1\">\n<div class=\"LiveBlogBody-postContainer\">\n<div id=\"107172773-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">1 Hour Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Figures of the final market for 2022<\/h2>\n<div class=\"group\">\n<p>Friday marked the end of 2022&#8217;s trading days. This was also true for the quarter, month, and year. These are the results of major market averages over these time periods.<\/p>\n<p>The Dow came out on top:<\/p>\n<ul>\n<li>The year ended with a drop of 8.78%<\/li>\n<li>Up 15.39% in the quarter<\/li>\n<li>The month&#8217;s decline was 4.17%<\/li>\n<li>The week ended at a decrease of 0.17%<\/li>\n<\/ul>\n<p>The S&#038;P 500 is now closed:<\/p>\n<ul>\n<li>Yearly drop of 19.44%<\/li>\n<li>The quarter saw an increase of 7.08%<\/li>\n<li>Monthly drop of 5.90%<\/li>\n<li>The week ended at a decrease of 0.14%<\/li>\n<\/ul>\n<p>The Nasdaq Composite was successful:<\/p>\n<ul>\n<li>Yearly drop of 33.10%<\/li>\n<li>The quarter ended in a decrease of 1.03%<\/li>\n<li>Monthly drop of 8.73%<\/li>\n<li>For the week, it was down 0.3%<\/li>\n<\/ul>\n<p>The Russell 2000 small caps were completed:<\/p>\n<ul>\n<li>Yearly drop of 21.56%<\/li>\n<li>The quarter saw an increase of 5.8%<\/li>\n<li>Monthly drop of 6.64%<\/li>\n<li>Up 0.02% for this week<\/li>\n<\/ul>\n<p><em>\u2014 Jesse Pound, Christopher Hayes<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172767-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">2 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Stocks close at 2022 end lower<\/h2>\n<div class=\"group\">\n<p>Although stocks closed at their lowest levels of the session on Friday (see chart), the major averages finished in the red.<\/p>\n<p>The Dow lost about 75 points while the S&#038;P 500, Nasdaq Composite and Nasdaq Composite dropped 0.25% and 0.1%, respectively.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172737-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">3 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Dow dropped nearly 300 points in the final hour<\/h2>\n<div class=\"group\">\n<p>One hour remains in the trading season and the Dow is down 295pts, while the Nasdaq 500 and S&#038;P 500 are down by approximately 1%.<\/p>\n<p>The Energy Select Sector SPDR Fund gained 0.4%, indicating that the sector&#8217;s performance is superior to other sectors. Both tech stocks and utilities are in trouble.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172715-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">3 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Year-end yield on 10-year Treasury bonds is below 4%<\/h2>\n<div class=\"group\">\n<p>The benchmark 10-year Treasury yield is now over. <a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/treasury-yields-as-investors-look-ahead-to-2023-.html\">year below 4%<\/a>. This is a significant relief for markets, as opposed to October when it soared to above 4.3%.<\/p>\n<p>The 10-year journey provides a snapshot of investing for 2022. It began the year at 1.5% and climbed higher as the Federal Reserve failed in its efforts to fix the U.S. inflation problem. This caught even prudent investors off guard.<\/p>\n<p>Although the bond market is ending the year with some optimism, it still shows signs of the volatility it has been experiencing throughout 2022.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"ChartSlate-chartSlateContainer\">\n<h3>Loading chart<\/h3>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172701-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">4 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Stocks suffer afternoon trading losses<\/h2>\n<div class=\"group\">\n<p>As Wall Street prepares to close 2022 with a bad note, the major averages are trading at session lows. The Dow has fallen more than 300 points while the Nasdaq 500 and S&#038;P 500 have both dropped about 1%.<\/p>\n<p>All heavyweight stocks, including Apple, Amazon, Microsoft and Citigroup, suffered modest losses on the day.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172674-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">4 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Nikkei reports that Bank of Japan might increase its inflation forecasts for January.<\/h2>\n<div class=\"group\">\n<p>According to a report, Japan&#8217;s central bank may consider increasing its January inflation forecasts to reflect price growth closer to the 2% target for 2024 fiscal year. <a href=\"https:\/\/asia.nikkei.com\/Economy\/Bank-of-Japan-weighs-raising-inflation-forecasts-closer-to-2-target\" target=\"_blank\" rel=\"noopener\">Dec. 30 report<\/a> Sources familiar to Nikkei<\/p>\n<p>According to the report, this move could help lay the foundation for tighter fiscal policies.<\/p>\n<p>The report arrives more then a week later than the <a href=\"https:\/\/www.cnbc.com\/2022\/12\/20\/bank-of-japan-shocks-global-markets-with-bond-yield-shift.html\">Bank of Japan changed its bond yield controls<\/a>This will allow long-term interest rates rise even more. The rate on the 10-year bond will be allowed to fluctuate by half a percentage point above and below the nation&#8217;s target of 0% \u2013 up from a quarter-percentage point range.<\/p>\n<p>Japan has seen a rise in retail sales, which have also risen for a <a href=\"https:\/\/www.cnbc.com\/2022\/12\/27\/japan-retail-sales-up-for-9th-month-led-by-tourism-help.html\">ninth consecutive month<\/a> November<\/p>\n<p>\u2014<em>Darla Mercado<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172672-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">5 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Aerospace and defense stocks are on track for another year of gains<\/h2>\n<div class=\"group\">\n<p>Despite the market decline of 2022, aerospace and defense stocks soared in 2022 due to increased commercial travel and rising geopolitical tensions.<\/p>\n<p>The S&#038;P 500 industry had risen nearly 15% in the last year, and 24% in the last quarter as of Friday midday.<\/p>\n<p>Northrop Grumman is the best performer. Northrop Grumman&#8217;s shares soared by more than 40% in this year and an additional 15.5% during the fourth quarter. Lockheed Martin is close behind, with shares rising by 36% in the third quarter and 23% respectively in the fourth quarter of 2022.<\/p>\n<p>Boeing&#8217;s performed the best for the quarter, rising more than 56%. Lockheed and Howmet are up 27% and 25% respectively this quarter.<\/p>\n<p>Only four stocks, including Boeing, are expected to lose money in 2022. Textron is the worst-performing share, falling 8.7%. Comparatively, the benchmark index has fallen almost 20% in the last year.<\/p>\n<p><em>\u2014 Samantha Subin<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172669-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">5 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Survey: These tech stocks will be purchased by investors next year<\/h2>\n<div class=\"group\">\n<p>Technology stocks have had a tough year. The Nasdaq Composite fell to its lowest level since 2008, as rate hikes have slowed growth.<\/p>\n<p>CNBC&#8217;s recent survey suggests that investors might still place bets on these stocks as the calendar year ends.<\/p>\n<p>These are the names <a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/investors-intend-to-buy-these-tech-stocks-in-2023-cnbc-survey-of-money-managers-shows.html\">top of mind for investors in 2023.<\/a><\/p>\n<p><em>\u2014 Samantha Subin<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172648-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">6 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Europe ends its worst year since 2018<\/h2>\n<div class=\"group\">\n<p>European stocks <a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/european-stocks-set-to-log-worst-year-since-2018.html\">wrapped up their worst year since 2018<\/a> Friday<\/p>\n<p>The pan-European Stoxx 600 index ended the year with a loss of 12.76%.<\/p>\n<p>The FTSE 100 achieved an average annual gain of 1% in the U.K. The domestic-focused FTSE 250, however, fell 19.5% in its worst year since 2008.<\/p>\n<p><em>\u2014Elliot Smith, Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172619-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">7 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Fundstrat&#8217;s Tom Lee explains the bullish thesis of Fundstrat for 2023<\/h2>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107172608\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107172608\" class=\"PlaceHolder-smallMarginTop PlaceHolder-wrapper\" data-vilynx-id=\"7000279437\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107172609-16724138981672413896-27448001507-1080pnbcnews.jpg?v=1672414706&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"A dovish trajectory in February would be a huge catalyst for markets, says Fundstrat&#039;s Tom Lee\" \/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Fundstrat&#8217;s Tom Lee stated on &#8220;<a href=\"https:\/\/www.cnbc.com\/squawk-on-the-street\/\">Squawk on the Street<\/a>&#8220;That too many investors seem to overlook the reasons stocks see substantial gains next year.<\/p>\n<p>&#8220;The question we have to ask in 2023 is what is the probability the market has an above-average year,&#8221; Lee said.<\/p>\n<p>Fundstrat has a target year-end 2023 for 4,750 on S&#038;P 500. CNBC&#8217;s targets for larger firms are higher than those set by Fundstrat. <a href=\"https:\/\/www.cnbc.com\/market-strategist-survey-cnbc\/\">Market Strategist Survey<\/a>.<\/p>\n<p>He mentioned that easing credit markets and volatility could be factors that can boost stocks in the coming year. He said that stocks could be at risk of pricing in rate increases and weaker earnings.<\/p>\n<p>&#8220;If 2023 is a year where earnings are declining, but they rebound in 2024, well markets begin to look through that. In fact, on average, stocks bottom before earnings estimates bottom,&#8221; Lee said.<\/p>\n<p>According to the strategist, technology stocks could surprise the market in 2023. However, the Federal Reserve&#8217;s tight policy was a downside risk.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172606-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">7 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Stoltzfus believes stocks could see an almost 2009-like move in 2009.<\/h2>\n<div class=\"group\">\n<p>John Stoltzfus is an Oppenheimer strategist. He was not optimistic about 2022 markets, but this year&#8217;s mishaps aren&#8217;t going to affect his outlook for 2023.<\/p>\n<p>&#8220;The bears have had it this year. They were wrong for almost 13 years, notwithstanding some pullbacks,&#8221; Stoltzfus claimed that &#8220;Squawk on the Street.&#8221;<\/p>\n<p>The strategist compared today&#8217;s market setup to 2009, which saw stocks fall sharply in the first months of the year before rebounding to end the year with large gains. Stoltzfus&#8217; 2023 year-end target is 4,400 for the S&#038;P 500.<\/p>\n<p>&#8220;I think 10-12% upside from here would be highly likely should the Fed be able to prove that it can pause inflation,&#8221; Stoltzfus said.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172586-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">8 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Index of purchasing managers reads higher than expected<\/h2>\n<div class=\"group\">\n<p>The December Chicago purchasing managers&#8217; index, which is a measure of business activity, was hotter than anticipated.<\/p>\n<p>The index was at 44.9. This is higher than the consensus Dow Jones estimate of 40.5. It also represents an improvement from the previous reading of 37.2.<\/p>\n<p>A reading below 50 indicates economic contraction, despite the rise in readings. A higher reading generally indicates a stronger economy.<\/p>\n<p><em>\u2014 Alex Harring<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172590-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">8 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Stocks open lower<\/h2>\n<div class=\"group\">\n<p>On Friday, stocks were lower across the board. The Dow lost more than 100 point. Energy was the bright spot early on, with the Energy Select Sector SPDR Fund gaining about 0.3%.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172569-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">9 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">2022 was a significant year for the Dogs of the Dow<\/h2>\n<div class=\"group\">\n<p>One strategy stood out in a tough year for investors: it was simple.<\/p>\n<p>The average &#8220;Dogs of the Dow&#8221; Stocks are on track to earn a positive total yield for 2022. This strategy is used to identify the Dow Jones Industrial Average&#8217;s 10 highest yielding dividend names. The shift to income and value investing this year has benefited the group.<\/p>\n<p>Next year, JPMorgan will be added to the list. <a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/2023-dogs-of-the-dow-list-they-beat-the-market-in-2022.html\">Check out the full list on CNBC Pro<\/a>.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172543-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">10 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Shaw and Tesla are early movers<\/h2>\n<div class=\"group\">\n<p>These are some notable early movers who were there before Friday&#8217;s bell rang.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/SJR\/\">Shaw Communications<\/a>\u00a0\u2013 Canada&#8217;s Competition Tribunal dismissed an attempt by the country&#8217;s competition watchdog to block the $26 billion acquisition of the telecom company by rival\u00a0<a href=\"https:\/\/www.cnbc.com\/quotes\/RCI\/\">Rogers Communications<\/a>. Shaw rose 10.1% in the premarket while Rogers gained 0.4%<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/quotes\/TSLA\/\">Tesla<\/a> \u2013 Tesla is down 1% in the premarket after posting its first back-to-back gains since Nov. 22 to 23. Since a four-day winning streak between Oct. 25 and 28, Tesla hasn&#8217;t risen for three consecutive days. The stock is still down by 65% for 2022.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/stocks-making-the-biggest-moves-premarket-shaw-communications-li-auto-southwest-and-others.html\">Check out the full list here<\/a>.<\/p>\n<p><em>\u2014 Peter Schacknow, Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172539-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">10 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Futures extend losses<\/h2>\n<div class=\"group\">\n<p>Stock futures dropped in morning trading. Dow futures were down by around 130 points.<\/p>\n<p>S&#038;P 500 futures fell 0.6% while Nasdaq 100 futures dropped 0.9%.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172534-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">10 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Bond yields tick higher<\/h2>\n<div class=\"group\">\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/treasury-yields-as-investors-look-ahead-to-2023-.html\">Bond yields<\/a> On Friday morning, they were modestly higher. The 10-year Treasury yield climbed about 1 basis point to 3.846%, while 2.year Treasury yield traded at 4.388%.<\/p>\n<p>A basis point equals 0.01%, and yields move against price.<\/p>\n<p>The yields have fallen from their highest levels in the year. The 10-year traded above 4% in November and October.<\/p>\n<p><em>\u2014 Jesse Pound<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172064-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">22 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">CNBC Pro: Citi names its top biotech stock picks for 2023 \u2014 and gives one 73% upside<\/h2>\n<div class=\"group\">\n<p>Biotech will remain an important industry. &#8220;stock-pickers market&#8221; Citi predicts 2023.<\/p>\n<p>The bank discusses how biotech can perform in different economic situations and names three of its top choices for 2023.<\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/2022\/12\/30\/citi-names-top-biotech-stock-picks-for-2023.html\">CNBC Pro subscribers can read more here.<\/a><\/p>\n<p><em>\u2014 Weizhen Tan<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172420-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">23 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Only one sector is on track for a yearly gain: Energy<\/h2>\n<div class=\"group\">\n<p>In 2022, the energy sector was at its best as investors managed to deal with the effects of the oil crisis that was triggered by the conflict in Ukraine.<\/p>\n<p>At Thursday&#8217;s closing, it was the only major S&#038;P 500 Sector on track to finish the year in gains, with nearly 58%.<\/p>\n<p>In 2022, the communication services sector will be the worst laggard, with a drop of more than 40%. Consumer discretionary dropped more than 37% and information technology will finish almost 29% below.<\/p>\n<p>The quarter saw gains in all major sectors, except for consumer discretionary and communications services which fell about 10.2% each and 1.6%, respectively. Except for utilities, all sectors are heading for monthly losses. This is 0.2% higher.<\/p>\n<p><em>\u2014 Samantha Subin, Chris Hayes<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172413-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">23 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">This is where the major averages stand, as 2022 comes close.<\/h2>\n<div class=\"group\">\n<p>Stocks have had a difficult year, with the major averages registering their worst performance since 2008. They are poised to end a three-year winning streak.<\/p>\n<p>This is where the Dow Jones Industrial Average (S&#038;P 500), and Nasdaq composite stand, with only one trading day left in 2022.<\/p>\n<p>Dow:<\/p>\n<ul>\n<li>The week ended up 0.05% and is on track for its second positive week in succession<\/li>\n<li>December saw a drop of 3.96%, and it is expected to end a streak of two months.<\/li>\n<li>The quarter saw a 15.65% increase and is on track to end a three-quarter losing streak<\/li>\n<li>A decrease of 8.58% in the year<\/li>\n<\/ul>\n<p>S&#038;P:<\/p>\n<ul>\n<li>We are up 0.12% so far this week and we are on track to end a three-week losing streak.<\/li>\n<li>Monthly decline of 5.66%, with a pace to surpass three months of gains and to surpass a 2-month high.<\/li>\n<li>The quarter&#8217;s increase in 7.35% is expected to end the three-quarter losing streak.<\/li>\n<li>In 2022, the decline is 19.24%<\/li>\n<\/ul>\n<p>Nasdaq:<\/p>\n<ul>\n<li>For its fourth consecutive negative week, the stock market is down 0.19%<\/li>\n<li>8.63% lower in December and on pace for breaking a two-month winning streak.<\/li>\n<li>It was down by 0.92% in the quarter, and heading for its fourth consecutive negative quarter.<\/li>\n<li>This year, tumbled 33.03% \u00a0\u00a0\u00a0<\/li>\n<\/ul>\n<p><em>\u2014 Samantha Subin, Chris Hayes<\/em><\/p>\n<\/div>\n<\/div>\n<div id=\"107172419-post\" class=\"LiveBlogBody-post\">\n<div class=\"group LiveBlogBody-postTimestamp\">\n<div class=\"LiveBlogTimestamp-liveBlogTimeStamp\">\n<div class=\"LiveBlogTimestamp-timeHidden\"><time data-testid=\"lastpublished-timestamp\">24 Hours Ago<\/time><\/div>\n<\/div>\n<\/div>\n<h2 class=\"LiveBlogBody-subtitle\">Stock futures are flat<\/h2>\n<div class=\"group\">\n<p>Stocks were flat during overnight trading on Thursday<\/p>\n<p>Futures that are tied to the Dow Jones Industrial Average lost 22 points, or 0.7%, while futures on S&#038;P 500, Nasdaq 100, and Nasdaq 100 traded flat.<\/p>\n<p><em>\u2014 Samantha Subin<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Updated Fri Dec 30, 20225:23 PM EST ShareShare the article via FacebookTweet to Share the ArticleLinkedIn: Share an articleEmail to Share Article Stocks dropped on Friday as Wall Street ended its worst year in eight years with a whimper. The Dow Jones Industrial Average lost 73.55 point, or 0.2%, to close at 33.147.25. S&#038;P 500 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1791091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[11456,8352,10492,3990,12626,5458,3819,12627,6044],"class_list":["post-1791088","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-11456","tag-8352","tag-10492","tag-3990","tag-bidenomics","tag-bongino","tag-report","tag-sp","tag-worst"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1791088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1791088"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1791088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1791091"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1791088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1791088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1791088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}