April 25-29, 2022 Recap
The Dow Industrials and S&P 500 ended fractionally lower last week amid intense volatility as investors assessed the economic growth impact of the Federal Reserve’s ½-point rate hike and policy outlook announced on Wednesday. Meanwhile, China’s two largest cities remain in lockdown yet another week, adding more complications to supply-chain disruptions already aggravated by Russia’s intensifying war in Ukraine. Despite the fractional setback, the S&P 500 capped a fifth weekly loss, its longest weekly losing streak in over a decade (since June 2011) and is off 13.6% from its record high set on the first trading day of the new year. For the Nasdaq Composite, which is down 24% from its record-setting peak almost six months ago on November 19, 2021, the bull market is over.
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The Weekly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
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