Friends
It appears that the bulls are taking 2022 in for somewhat of a crash landing. No, the guy in the red suit is not involved. As a matter of fact, he is nowhere to be found at the moment. Instead, relentless selling into year end seems to be the plan of action for investors. There are some possible green shoots out there for investors to find, but as we close out 2022 traders just don’t seem to see anything but dark clouds on the horizon.
As for today, by the close the Dow Jones Industrial Average was down 365 points to finish the day at 32,875. The S&P 500 was down 46 points to close at 3,783. The Nasdaq Composite Index was down 139 points to close at 10,213. Gold was down $11 to trade at $1,811 per ounce, while oil was down $.76 to trade at $78.77 per barrel WTI.
We are at the point where we just want this year to come to an end (with regards to markets and investments), and it appears that the markets still want to inflict a little more pain before it’s all over. Maybe some folks will look for some bargains over the next couple of trading sessions as they prepare their portfolios for 2023. Let’s hope so.
Have a nice evening everyone.
