HK Weekly Recap & Analysis December 27th, 2022
KEY ECONOMIC DATA RELEASES TO WATCH
MARKET RECAP FROM THE PREVIOUS WEEK
December 19, 2022
US NAHB Housing Market Index Actual 31 (Forecast 34, Previous 33)
Binance.US will acquire crypto lender Voyager Digital’s assets for $1 billion
Fortnite maker, EpicGames, agrees to pay the largest-ever FTC fine of $520 million for misleading players into making unintended purchases and violating a federal children's privacy law
SBF ordered back to Bahamian prison, won't be extradited yet
Nasdaq composite: -1.5%
DJI: -.49%
S&P:-.94%
December 20, 2022
Wells Fargo is to pay $3.7 Billion for mistreating customers, the most significant fine in the Consumer Financial Protection Bureau's history.
US Defence Department Spokesman Kirby: The US is closely monitoring China's current situation, including the potential impact on American companies and supply chains, despite the administration's efforts to strengthen resilience
Elon confirms he will step down as Twitter CEO once a successor is found. He will run the software and servers team instead.
Nasdaq composite: .54%
DJI: .35%
S&P: .29%
December 21, 2022
US CB Consumer Confidence Actual 108.3 (Forecast 101, Previous 100.2)
US Existing Home Sales Actual 4.09M (Forecast 4.2M, Previous 4.43M)
US Existing Home Sales change Actual -7.7% (Forecast -5.19%, Previous -5.9%)
US 1-year consumer inflation rate expectations are 6.7% in December vs. 7.1% in November
Nasdaq composite: 1.11%
DJI: 1.05%
S&P: 1.01%
December 22, 2022
US Initial Jobless Claims Actual 216k (Forecast 222k, Previous 211k)
Real GDP increased at an annual rate of 3.2 percent in the third quarter of 2022
Disgraced FTX founder SBF was extradited to the US and will face fraud and other criminal charges.
NFL Sunday Ticket is partnering with YouTube TV for $2 billion a year
Nasdaq composite: -1.04%
DJI: .62%
S&P: -.80%
December 23, 2022
Bloomberg is looking to buy Dow Jones or the Washington post to expand its media empire.
US New Home Sales - Units Actual 0.64M (Forecast 0.6M, Previous 0.632M)
US New Home Sales Change MoM Actual 5.8% (Forecast -5.1%, Previous 7.5%)
The MoM US New Home Sales numbers were much better than the forecast.
University Michigan 1 Yr Inflation Final Actual 4.4% (Forecast 4.6%, Previous 4.6%)
University Michigan 5 Yr Inflation Final Actual 2.9% (Forecast 3%, Previous 3.0%)
The Michigan 1yr Inflation numbers came in better than expected.
US PCE Price Index YoY Actual 5.5% (Forecast 5.5%, Previous 6.0%, Revision 6.1%)
Nasdaq composite: .58%
DJI: .74%
S&P: .78%
THE WEEK AHEAD & EARNINGS
Monday – 12/26/2022
None scheduled.
AM Earnings: None scheduled
PM Earnings: None scheduled.
Tuesday – 12/27/2022
Trade in goods, advance report - 8:30 AM ET
S&P Case-Shiller U.S. home price index (SAAR) - 9 AM ET
FHFA U.S. home price index (SAAR) - 9 AM ET
AM Earnings: None scheduled.
PM Earnings: None scheduled.
Wednesday – 12/28/2022
Pending home sales index - 10 AM ET
AM Earnings: None scheduled.
PM Earnings: None scheduled.
Thursday – 12/29/2022
Initial jobless claims - 8:30 AM ET
Continuing jobless claims - 8:30 AM ET
AM Earnings: None scheduled.
PM Earnings: None scheduled.
Friday – 12/30/2022
Chicago PMI - 9:45 AM ET
AM Earnings: None scheduled.
