The stock market suffered its worst yearly performance since 2008
Stocks closed out their worst year since 2008 on a low note, with daily, monthly, and annual losses. The blue-chip index and S&P 500 did manage to eke out quarterly wins, both snapping losing streaks, but optimism ended there as the year of inflation woes, rate hikes, and geopolitical tensions put a bow on the bear market that was 2022. Economic data is slated to ignite the New Year, though markets will be closed on Monday, Jan. 2, in observance of the holiday.
Continue reading for more on today's market, including:
5 Things to Know Today
- After a long battle, the House Ways and Means committee released U.S. President Donald Trump's income tax returns spanning the years 2015 to 2020. (CNBC)
- For the first time in almost four years, the U.S. approved Chevron (CVX) to send two oil tankers Venezuela. (Reuters)
- The e-tailer to watch in 2023.
- Avoid this semiconductor giant in January.
- Ring in the New Year with this restaurant stock.
There were no earnings of note today.
Gold, Oil Wrap Up 2022 With Gains
After a year of geopolitical tensions between Ukraine and Russia, oil ended the day with a gain. West Texas Intermediate (WTI) crude for the now most active, February delivery, added $1.86 cents, or 2.4%, to settle at $80.26 per barrel. Crude added 6.7% for 2022.
Gold closed out the day on a high note, just shy of a six-month peak. February-dated gold rose 20 cents, or just under 0.1%, to settle at $1,826.20 per ounce on the day, and gained 0.4% in 2022.