Weekly Market Update (May 15, 2022)
HIGHLIGHTS
Owing to the exacerbated concerns about recession, the stock market has recorded a drop for 6 weeks in a row. S&P and Nasdaq were down 2.4% and 2.8% respectively despite the rebound on Friday. CPI dropped slightly to 8.3% from 8.5%, which is still higher than market expectation. Bear in mind that the inflation target of the Fed is 2%. Although the market thinks the inflation has peaked, there is still a long way to go for the Fed to accomplish its goal.
MARKETS
| Nasdaq | 12,297.07 | -1.24% |
| S&P 500 | 4023.90 | -0.60% |
| Dow | 32196.67 | -0.80% |
| 10-Year | 2.93% | -12bps |
| Bitcoin | 29283.10 | -3.35% |
*Data as of market close. 5-day change ending on Friday.