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NYSE MAC Desk Weekly Recap - January 6
We have officially wrapped up the first trading week of 2023. In a microcosm this week was a reminder that just because we have turned the page on the calendar the headwinds that equity markets were facing throughout last year haven't magically disappeared.
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STRAIGHT FROM THE TRADING FLOOR
DOW 33,631 (+701), S&P 500 3,895 (+87), Russell 2000 1,793 (+40), NYSE FANG+ 4,402 (+108), ICE Brent Crude $78.60/barrel (-$0.09), Gold $1,871/oz (+$30), Bitcoin ~16.9k (+70)
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We have officially wrapped up the first trading week of 2023. In a microcosm this week was a reminder that just because we have turned the page on the calendar the headwinds that equity markets were facing throughout last year haven't magically disappeared. It was a choppy start to the week and coming into today it looked like the S&P 500 would extend its weekly losing streak to five weeks for the first time since last May. However, a sharp decline in yields following an easing of wages in today's Employment Report and a sharp drop in ISM Services propelled equity markets higher. The S&P 500 ended near session highs up 2.3%, leaving the index up 1.4% for the week.
Read the rest of the Weekly Recap here.
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