Benchmark indexes traded lower after two reports confirmed the ongoing tight labor market conditions and expanding payrolls as private businesses continue to add jobs.

In choppy trading market indexes advanced after the Fed minutes of December meeting showed support for rate hikes to continue to restrictive levels.

Stocks lacked direction after the ongoing recession and rate path worries dominated market sentiment despite the latest employment survey indicating strong labor market conditions. Crude oil dropped closer to one-year low.

Stocks declined on rate path worries, commodities fell on global demand weakness and government bond yields fell as investors sought safety.

Stocks on Wall Street traded lower on the final trading day of 2022 and benchmark indexes posted the worst losses since 2008. The highly immune evasive mutating XBB omicron subvariant family virus is rapidly spreading in the U.S.

Tech rally lifted benchmark indexes after investors adjust portfolio for tax reasons and await corporate earnings in two weeks.

Egg producers are shifting to cage-free production as more state governments mandate the requirement.

CALM


Stocks staged a rebound and major averages soared 2% on the back of a rally in tech stocks. Crude oil dropped 2% on the worries that the rapid rise in China's Covid-infections may spread to the rest of the world.

Tech stocks led market decline and investors avoided high growth stocks and shifted focus to rate path and slowing economic growth.

Investors focus on the upcoming earnings releases in two weeks and weighed the earnings outlook in a slowing global economy against the resilient U.S. consumer and reopening in China.

The rise in U.S. Treasury yields sapped market sentiment and dragged tech stocks lower. China-linked stocks traded higher on reopening optimism but Tesla and Apple fell to one-year lows.

Stocks lacked direction in holiday-shortened last week of 2022 as investors focused on portfolio rebalancing and weighed economic outlook and earnings revisions.

The Nikkei index in Tokyo closed higher following the easing of U.S. inflation. Governor Kuroda stressed that the recent yield band widening move is not the end of ultra-loose monetary policy. China indexes gained despite the rapid spread of Covid infections.

The S&P 500 and the Nasdaq Composite closed higher but closed down for the third week in a row. Bond yields advanced and crude oil gained for the second week in a row.



Stocks lacked direction after durable goods orders fell and core inflation index rose at a faster-than-expected pace in November. Major averages are set to close down for the third week in a row.