Friday (Dec 23, 2022) Markets Update

24 Dec 2022 by rate3

The beating Powell gave traders on Dec 14 FED Conference has its effect. They ignored (almost) the Monthly Durable Goods (lasting 3+ years) falling by 2.1 percent and setting the record of the past two years. 'Recessional mood' most heavily affected managers in transportation (orders got down 6.3 percent) and aircraft (non-defense orders fall 36.4 percent, while defense decreased by 8.6 percent) industries. Jerome spoke clearly: the upcoming recession is ours - not his concern. Additionally, markets were cooled down by the fact that personal incomes had been growing faster than expected in November (by 0.4 percent instead of 0.3). As a result, Friday's NASDAQ opened at 10383 and closed at 10499 increasing only by 1.1 percent, while BTC continued to range between 16900 and 16700.