Oil Crashes, Stocks Crash — Markets Go Back to 2022
An employee looks over an oil cracking facility at the Lukoil Nizhegorodnefteorg-Sintez refinery in Nizhny Novgorod, Russia.
Andrei Rudakoff | Bloomberg | Bloomberg | Getty Images
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Markets feel like they are reliving the worst of 2022. But investors are hoping for a fresh start this year as well.
What you need to know today
- US stocks are mixed fridayThe S&P 500 and Dow Jones Industrial Average rose, but the Nasdaq Composite fell.Asia Pacific start of the weekonly China’s Shanghai Composite and Shenzhen constituents are rising among the major markets.
- Professional Disney has been in the news lately due to its strong performance and major restructuring plans.but is it wise enter the magic kingdom? Two investors agree or disagree to buy shares.
Falling US markets, rising oil prices, rising US-China tensions – it feels like we are back to the worst of 2022.
US stocks had a terrible week. The Nasdaq fell 0.61% on Friday, giving him a 2.41% loss in the week. The Dow he’s up 0.5% and the S&P he’s up 0.2%, but the S&P turned to its worst weekly performance in almost two months and still ended the week lower.
Energy prices are also rising. April’s Brent contract, which covers oil from Europe’s North Sea, rose more than 8% in a week to $86.39 a barrel. US West Texas Central crude futures rose 8.63% to $79.72 a barrel over the week. This is his highest since October. Those prices each surged about 2% on Friday after Russia announced it would cut oil production next month in retaliation for Western sanctions.
US-China relations are deteriorating. After the United States shot down a suspected reconnaissance balloon last week, the Commerce Department has imposed sanctions on six Chinese aerospace companies for aiding Chinese espionage. On Sunday, US forces shot down his fourth unidentified object — his second on Friday and his third over the Yukon on Saturday. The object’s origin is still unknown, but more sanctions are increasingly likely.
Meanwhile, investors are watching for renewed momentum in the US consumer price index in January. The numbers show whether we will be forced to relive the dark days of 2022, or whether there is hope for at least one part of the economy: the American consumer.
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https://www.cnbc.com/2023/02/13/stock-markets-oil-popped-and-stocks-slumped-markets-return-to-2022.html Oil Crashes, Stocks Crash — Markets Go Back to 2022