Lunes 26/12/22 feriado por Navidad

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Entre los eventos más importantes de la semana tenemos los índices de precios de casas el Martes; la venta de casas pendientes el Miércoles; los seguros de desempleo el Jueves y el PMI de Chicago el Viernes.

Christmas holiday. None scheduled.
TUESDAY, DEC. 27
8:30 am Trade in goods, advance report Nov. -- -$99.0 billion
9 am S&P Case-Shiller U.S. home price index (SAAR) Oct. -- -8.7%
9 am FHFA U.S. home price index (SAAR) Oct. -- 0.9%
WEDNESDAY, DEC. 28
10 am Pending home sales index Nov. -1.8% -4.6%
THURSDAY, DEC. 29
8:30 am Initial jobless claims Dec. 24 220,000 216,000
8:30 am Continuing jobless claims Dec. 17 -- 1.67 million
FRIDAY, DEC. 30
9:45 am Chicago PMI Dec.

[admin]

LAST CHG %CHG
Crude Oil Futures 79.35 -0.21 -0.26
Brent Crude Futures 84.55 0.05 0.06
Gold Futures 1806.00 1.80 0.10
Silver Futures 23.920 0.298 1.26
DJIA Futures 33352 -23 -0.07
S&P 500 Futures 3868.25 -1.50 -0.04

[admin]

LAST CHG %CHG
DJIA 33203.93 176.44 0.53
S&P 500 3844.82 22.43 0.59
Nasdaq Composite 10497.86 21.74 0.21
Japan: Nikkei 225 26405.87 170.62 0.65
UK: FTSE 100 7473.01 3.73 0.05
Crude Oil Futures 79.35 -0.21 -0.26
Gold Futures 1806.00 1.80 0.10
Yen 132.98 0.19 0.14
Euro 1.0630

[admin]

LAST CHG %CHG
DJIA 33203.93 176.44 0.53
Nasdaq Composite 10497.86 21.74 0.21
S&P 500 3844.82 22.43 0.59
China: Shanghai Composite 3065.56 19.70 0.65
Japan: Nikkei 225 26405.87 170.62 0.65
UK: FTSE 100 7473.01

[admin]

Stocks Edge Higher After Consumer Spending Data
Commerce Department figures show that prices for services continued to climb faster than hoped

By Matt GrossmanFollow
and Caitlin OstroffFollow
Updated Dec. 23, 2022 at 7:18 pm ET
Indexes started Friday lower after Commerce Department figures showed that prices for services continued to climb faster than hoped last month. But stocks edged into positive territory after the midmorning release of the University of Michigan’s consumer survey painted households as optimistic about the economy.

In choppy trading, the S&P gained 22.43, or 0.6%, to 3844.82, while the tech-focused Nasdaq Composite rose 21.74, or 0.2%, to 10497.86. The Dow Jones Industrial Average rose 176.44, or 0.5%, to end at 33203.93.

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Still, a three-week string of losses for the S&P and the Nasdaq have set markets up to end 2022 with a down month. The S&P has given up 5.8% in December, while the Nasdaq has lost 8.5% and the Dow industrials 4%.

“Equities are left with a pretty difficult backdrop, and also one that’s going to be pretty unlikely to result in much multiple expansion,” said Ed Perks, chief investment officer at Franklin Templeton’s Franklin Income Investors. Mr. Perks’s team has put about 60% of its flagship portfolio into bonds, a flip from a 70% allocation to stocks to start 2022.

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Given how closely corporate earnings are tied to consumer behavior, traders are sensitive to any evidence of how well American wallets are navigating inflation and slowing growth. Jobless claims remain historically low, yet layoffs are mounting. Friday’s data indicated consumer-spending growth slowed in November versus October, so the morning’s strong Michigan survey came as a small relief.

“What you’re willing to pay at the pump, what you’re willing to pay at the grocery store, that’s what’s going to guide markets and the Fed next year,” said Matthew Bartolini, head of SPDR Americas research at State Street Global Advisors.

Bonds fell on Friday as traders guessed that signs of persistent inflation increased the likelihood the Fed will keep interest rates high for longer into the future. Friday’s personal-consumption expenditures data—the Fed’s preferred gauge of inflation—showed that prices for services rose by 0.4% in November, a troublesome pace when annualized. Persistent climbs in services prices have been spooking investors in recent months.

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The yield on the two-year Treasury note, sensitive to near-term Fed policy expectations, rose to 4.321%, from 4.263% Thursday, ahead of an early 2 p.m. bond-market close before the holiday. The benchmark 10-year yield climbed to 3.746%, up from 3.669% a day earlier. Yields rise when bond prices fall.

The Fed’s 2022 interest-rate hikes have sent Treasury yields soaring this year, rattling the stock market by offering investors attractive returns on ultrasafe government bonds.

More recently, fears of a coming recession have added to the equity market’s woes. Indexes have risen off 52-week lows notched in autumn, but the S&P and Nasdaq remain on track for double-digit losses when 2022’s trading wraps up next week.

A recession would likely damage corporate earnings, but one critical question for investors is whether a downturn could also bring some relief to financial conditions if it leads the Federal Reserve to cut rates. Traders have been betting that rate cuts are coming later next year, but that view conflicts with Fed officials, who project that they will continue to bring rates higher and hold them there.

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If the Fed sticks to its guns and continues battling inflation even as the economy slows, stocks have more room to suffer, said Hans Olsen, chief investment officer at Fiduciary Trust.

“I’m really kind of amazed at how offsides market sentiment has been with the reality that the process of moving to lower inflation is going to be bumpy,” Mr. Olsen said. “Where inflation settles, no one knows at this point.”

Wary that equities could fall farther, Fiduciary Trust has been holding five times as much cash in its portfolios as it usually does, Mr. Olsen said.

Tesla shares fell $2.20, or 1.8%, to $123.15, contributing to an 18% loss this week. The electric-car maker has been rocked by Chief Executive Elon Musk‘s controversial tenure leading Twitter, which investors have worried may distract him from Tesla’s challenges. The stock is down by nearly two-thirds this year.

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CarMax stock rose $2.96, or 5.2%, to $60.16, reversing some of its Thursday losses, which came after the company posted a 24% decline in third-quarter sales year over year. Inflation and rising interest rates have hurt demand at the used-car retailer. CarMax still fell 2.1% this week.


U.S. stock and bond markets will both be closed Monday. Photo: Michael M. Santiago/Getty Images
Brent crude, the international benchmark for oil prices, gained 3.6% to $83.92 a barrel. That made energy businesses some of Friday’s best performers among the S&P 500 companies. Hess climbed $6.38, or 4.7%, to $141.68. ConocoPhillips added $4.85, or 4.3%, to $117.05. Valero gained $4.75, or 4%, to $124.37.

U.S. stock and bond markets will be closed Monday to observe Christmas.

Overseas, the pan-continental Stoxx Europe 600 closed less than 0.1% higher. In Britain, the FTSE 100 rose less than 0.1% in a shortened trading session.

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In Asia, major indexes closed with losses. South Korea’s Kospi fell 1.8%, Hong Kong’s Hang Seng edged down 0.4%, and China’s Shanghai Composite shed 0.3%.

Japan’s Nikkei 225 declined 1%. Figures released Friday showed Japan’s core inflation rose at the fastest pace in nearly 41 years in November, fueling market speculation that the Bank of Japan will look to tighten monetary policy in 2023.

Write to Matt Grossman at matt.grossman@wsj.com and Caitlin Ostroff at caitlin.ostroff@wsj.co