U.S. macroeconomic statistics point to a soft landing, while Chinese equities come back to life and European stocks outperform. Each week, the Syz investment team takes you through the last seven days in seven charts.

An encouraging US jobs report pushed the major US equity indexes higher for the week – although we note that trading volumes were subdued. After a poor start of the week, Friday’s official payrolls report from the Labor Department appeared to turn sentiment back in a positive direction by raising hopes that the economy could be on its way to a “soft landing”.

The main US stock indices ended the last trading week of the year mostly lower in thin trading as the S&P 500 finished 2022 down nearly 20%. However, we note that the S&P 500 Index remained above its intraday low recorded the week before. Consumer staples and materials shares fell the most, while consumer discretionary shares were resilient, thanks in part to strength in Target and several other retailers.

The major US equities benchmarks were mixed in a week of generally quiet holiday season trading. Hawkish comments from the Fed and other global central banks over the previous week continued to be a key factor weighing on markets. Stronger than expected US GDP estimates (from 2.9% to 3.2%) and US weekly jobless claims surprising modestly on the downside intensified fears of future Fed rate hikes.

Intensified fears over rising interest rates pushed the S&P 500 Index lower for a 2nd consecutive week and to levels last seen in early November. Nearly every sector within the index recorded sharp losses with the exception of energy shares, which were supported by a rebound in oil prices. A roughly USD 4 trillion expiration in options contracts on Friday sparked additional volatility.

The US Federal reserve has raised interest rates by 50 basis points yesterday evening, as expected. We also note some hawkish revisions to the inflation forecast.

S&P 500 slows down, China’s Hang Seng outperforms, while the price of Silver inflates on the back of political uncertainty in Peru. Each week, the Syz investment team takes you through the last seven days in seven charts

Stocks gave back much of the previous two weeks’ gains, as some surprisingly strong economic data (ISM services, Michigan Consumer Sentiment, PPI) dampened hopes that the Fed might soon be able to curb its program of raising interest rates to cool inflation. The S&P 500 Index recorded its worst return in five weeks and was unable to stay above its 200-day moving average following the recent rally.

Evidence points to peak inflation having passed in the US, while central banks purchase gold in quantities unseen in over half a century. Each week, the Syz investment team takes you through the last seven days in seven charts.

The major U.S. equity benchmarks ended higher with growth stocks outperforming their value counterparts. Meanwhile, the Dow Jones Industrial Average Index did enter bull market territory on the final day of November, when it closed more than 20% above the low it hit in September 2022. Comments from Fed Chair Jerome Powell signaling smaller interest rate hikes going forward drove U.S. Treasury yields lower this week.