(usda loan mortgage companies, qualifications for a conventional mortgage loan, mortgage home loan process, va mortgage loan credit score requirements, what is the mortgage rate for a va loan, how to apply for a va mortgage loan, mortgage loan omaha, movement mortgage va loan, sierra pacific mortgage my home loan, when to refinance mortgage loan, how much is a jumbo mortgage loan, mortgage loan options for first time home buyers, mortgage loan income to debt ratio, what does it take to be a mortgage loan officer, refinance mortgage and equity loan, qualify for a fha mortgage loan, second mortgage or home equity loan, advantages of a va mortgage loan, va mortgage loan closing costs, apply for mortgage loan online with bad credit, mortgage loan disclosures within 3 days, how to get home mortgage loan, federal home loan mortgage company, prequalify for mortgage loan online, refinance mortgage vs home equity loan, citigroup mortgage loan trust inc phone number, mortgage loan pre approval online, mortgage loan expenses, apply online for mortgage loan, second mortgage loan companies, harp loan second mortgage, fha loan without mortgage insurance, home loan mortgage broker, can i refinance my mortgage and home equity loan together, what is the maximum loan amount for a reverse mortgage, 200k loan mortgage, can i get a home improvement loan with my mortgage, 21st mortgage loan requirements, no mortgage home equity loan, pre approved mortgage but denied loan, bank or mortgage company for home loan, mortgage loan grants, va loan mortgage companies, 100 loan to value mortgage refinance, mortgage loan rate vs apr, veterans mortgage loan, estimate mortgage loan approval amount, who can get a va mortgage loan, is a home equity loan the same as a mortgage, va mortgage loan eligibility, difference between mortgage and home loan, reverse mortgage loan rates, reverse mortgage home loan, reverse mortgage loan scheme sbi, best cheapest car insurance company, who is the best car insurance company for young drivers, best term insurance company, best online car insurance company, best insurance company for drivers with points, best cheap car insurance company, best company for auto insurance, best cheapest auto insurance company, best car insurance company for new drivers, best company for car insurance, cheapest best auto insurance company, which is the best insurance company for auto, what is the best home and auto insurance company, what is the best and cheapest auto insurance company, best and cheapest car insurance company, best company for home and auto insurance, navigators insurance company am best rating, best car insurance company 2015, what is the best insurance company for auto, best car insurance company california, what is the cheapest and best car insurance company, best car insurance company in california, best online insurance company, who is the best rated auto insurance company, best insurance company for auto and home, automotive accident lawyers, accident automotive, automotive insurance company, cheap automotive insurance, automotive insurance, automotive insurance quotes, automotive insurance new york, automotive insurance companies, automotive certification online)

Stocks end 2022 with a thud; Treasury yields, oil prices rise

content of the article

NEW YORK – Wall Street stock indices closed lower on Friday, the last trading day of 2022, while Treasury yields rose along with oil futures as investors grappled with worries about a possible recession and the U.S. central bank prepared for the new year.

In currencies, the dollar, which benefited from rising US interest rates, fell on the day but was on track to gain about 8% through 2022, its biggest annual gain since 2015.

content of the article

The US 10-year Treasury yield rose on Friday, ending the trading year with the largest annual rise in decades, buoyed by aggressive Fed rate hikes.

advertising 2

content of the article

The Fed and central banks around the world have hiked interest rates to combat rising inflation fueled by supply chain issues related to the COVID-19 pandemic and an energy crisis linked to oil-producer Russia’s invasion of Ukraine.

As a result, all three major averages posted their largest one-year percentage declines since the 2008 financial crisis, with the S&P 500 posting a 19.4% decline for 2022, the Nasdaq closing 33% down, and the Dow down 8.7% for the year.

“There is uncertainty about fundamentals, what the economy is going to do, what the Fed is going to do, what earnings are going to do. But will the market also start with a January sell-off?” said James Ragan, director of Wealth Management Research DA Davidson in Seattle.

advertising 3

content of the article

“There’s this fear out there, so portfolio managers and traders just don’t want to be in a real risk position going into the new year. That happened today and all week.”

On Friday, the Dow Jones Industrial Average fell 73.55 points, or 0.22%, to 33,147.25, the S&P 500 lost 9.78 points, or 0.25%, to 3,839.5 and the Nasdaq Composite fell 11.61 points or 0.11% to 10,466.48.

MSCI’s world stock index fell 0.24% on the day, posting about a 20% annual decline, the largest since 2008, when it fell more than 43%.

Aside from domestic worries, investors around the world are also watching China, the world’s second largest economy, for signs of weakness.

China’s healthcare system has been strained by rising COVID cases since it began easing tough restrictions this month. Spain and Malaysia on Friday joined countries imposing or considering restrictions on travelers from China.

advertising 4

content of the article

Among currencies, the dollar is up 7.8% for the year, but it was on track for a 7.7% loss this quarter, its biggest drop since the third quarter of 2010.

The dollar index fell 0.462% while the euro rose 0.39% to $1.0703 on Friday.

The Japanese yen rose 1.36% against the greenback to 131.21 per dollar, while sterling was last traded at $1.2082, up 0.25% on the day.

In fixed income, the benchmark 10-year bond rose 4.4 basis points to 3.879% from 3.835% late Thursday.

US crude oil futures posted a second straight annual gain after a highly volatile year marked by tight supplies due to the Ukraine war and subsequent falling demand from China, the world’s largest crude oil importer.

For the day, US crude was up 2.4%, or $1.86, to $80.26 a barrel and Brent closed at $85.91, up $2.45, or 2.94% on the day.

Gold posted its biggest quarterly gain since June 2020, while the Fed’s rapid tightening cycle had dampened bullion performance for the full year.

Spot gold rose 0.4% to $1,822.66 an ounce. US gold futures rose 0.15% to $1,819.70 an ounce.

(Reporting by Sinéad Carew, Chuck Mikolajczak, Carolyn Cohn, Ankur Banerjee; Editing by Simon Cameron-Moore, Sam Holmes, Philippa Fletcher, Chizu Nomiyama, Josie Kao, and Diane Craft)

Display 1


Postmedia strives to maintain a vibrant but civilized forum for discussion and encourages all readers to share their views on our articles. Comments may take up to an hour to be moderated before they appear on the site. We ask that you keep your comments relevant and respectful. We’ve turned on email notifications – you’ll now receive an email when you get a reply to your comment, there’s an update on a comment thread you follow, or when a user you follow comments follows. For more information and details on how to customize your email settings, see our Community Guidelines.

Leave a Reply

Your email address will not be published. Required fields are marked *

| |
Back to top button