November 2, 2023
December 2022 Economic & Market Highlights
The CPC Team
- Stock markets closed out the year with a rough setback. Aside from international markets, major indices snapped a two-month string of gains. It was also the worst year for stocks since 2008.
- Sticky inflation and aggressive interest rate hikes have weighed considerably on stocks globally over the year, especially those in higher growth sectors. Geopolitical concerns and volatile economic data further rocked the boat.
- As with stocks, bonds felt the pressure of higher interest rates, with the largest yearly decline since the inception of the index.
- In the new year, investors will remain focused on employment, labor, and related economic data, as the strength of wages could detract from corporate earnings.
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