Market Insights
Market Insights - Week 50
Anupam Kumar
Market Insights Week 50
Date – 12th Dec’22
More anxious markets, over the outlook for growth in the year ahead, stalled the rally last week that began in mid-October. After two positive weeks in a row, the major stock indices fell around 3-4% in the US stock market. Officials from the World Bank and IMF (International Monetary Fund) are concerned about a worsening outlook for the global economy and the potential for a recession. The global growth forecasts for 2023 have been reduced to 2.7% against the previous expectation of 3.2%, as per IMF’s latest report.
In order to avoid recession, Central banks across the globe especially U.S. Federal Reserve strives to continue its effort and at the same time ‘Bear Market’ seems to stay here for some more time and test the patience of investors.
Let us highlight some of the major movements of the last week:
Important economic data will be released this week including the CPI index and retail sales growth. However, the most important is the press conference by US Fed Chair Jerome Powell, scheduled on Wednesday, which would reveal the two-day policy meeting outcome and key interest-rate hike numbers.
It looks like the stock market may retreat from the recent highs and there would be more buying opportunities at lower levels in the coming weeks and early 2023.
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Anupam Kumar
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