Daily Market Commentary

November 23,2022

Bonds & Stocks
US stocks wavered as investors await the release of policy minutes from the Federal Reserve’s latest meeting for potential signs that the pace of rate hikes may slow. The S&P 500 struggled for direction after closing at its highest level since mid-September on Tuesday. The Nasdaq 100 wavered in early trading.

Economy
Applications for US unemployment benefits rose last week to a three-month high amid a wave of layoffs at technology companies, a sign of cooling in a tight labor market. Initial unemployment claims increased by 17,000 to 240,000 in the week ended Nov. 19, Labor Department data showed Wednesday. The median estimate in a Bloomberg survey of economists called for 225,000.

World
A barrage of Russian missile strikes against Ukrainian energy facilities prompted the country’s grid operator to enact emergency blackouts. The European Parliament adopted a non-binding resolution to declare Russia a state sponsor of terrorism, a move that lawmakers hope will help hold leaders accountable for war crimes.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy, or when to buy or sell.

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