Average investors are seen buying below (dip-buying) before 2022 draws the curtain to watch the risky asset market finally break the profit deadlock.
The achievement was achieved thanks to a rebound in the growth stocks of the United States (US) giant and a jump in the unemployment rate, suggesting smaller rate hikes should be considered.
At yesterday's close, the Dow Jones Industrial gained 1.05% at 33,220.8 with the S&P 500 up 1.75% at 3,849.28 and the Nasdaq Composite up 2.59% at 10,478.09.
Europe's STOXX 600 index rose 0.68% but its gains were held back by China's negative sentiment factor regarding a potential spike in Covid-19 cases after the easing of its restrictive policy and the MSCI global gauge gained 1.26%.
Asian trade for the last day of 2022 saw Australia's S&P/ASX 200 up 0.47%, Japan's Nikkei 225 up 0.39% and the Topix up 0.2%.
Comment chief U.S. equity strategist. Bank Wealth Management, Terry Sandven, the index board finally turned green with investors trying to sum up 2022 on a good note before heading to a more optimistic 2023.
In the meantime, the greenback and Treasury yields lost some ground after the release of the unemployment rate data despite the overall market sentiment being 'upbeat'.
Follow Us!