Markets close out the year down, following light week of trading - CNBC

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Markets closed out the week — and the year — in the red, as the so-called Santa Claus rally failed to materialize. In addition to some possible "window dressing," whereby fund managers dump underperforming stocks at the end of a quarter to avoid publicizing ownership of those positions, the market was also undoubtedly pressured by tax-loss selling this week. The S & P 500 closed down 0.25% Friday in a quiet day of trading. Stocks had their worst year since 2008. Under the hood, financials closed out the week in the green followed by energy, while materials led to the downside followed by consumer staples and utilities. Meanwhile, the U.S. dollar index pulled back to around the 103 level. Gold is hovering at just over $1,800 per ounce. West Texas Intermediate crude prices are hovering at around $80 per barrel, while the yield on the 10-year Treasury stands at around 3.89%. Markets will be closed on Monday, Jan. 2, in observance of New Year's Day. Club trades On Thursday, we bought 500 more shares of Ford Motor (F). Jim Cramer's Charitable Trust now owns 6,500 shares of F, increasing its weighting in the portfolio to about 2.63% from about 2.44%. Looking back Within the portfolio, no companies reported earnings this week. On the macroeconomic front: U.S. pending home sales fell 4% month-on-month in November, the National Association of Realtors said Wednesday, a far greater slide than the 0.8% decline predicted by analysts. On Thursday, initial jobless claims for the week ending Dec. 24 came in at 225,000, the U.S. Labor Department said. That's an increase of 9,000 from the prior week, in line with analysts' expectations. What's ahead Earnings season is winding down. However, Club holding Constellation Brands (STZ) reports fiscal third-quarter results before the opening bell on Thursday. Here are some other earnings reports and economic numbers to watch for in the week ahead. Tuesday, Jan. 3 Before the bell: SemiLEDS Corp (LEDS) After the bell: SMART Global (SGH) 9:45 a.m. ET: Flash PMI manufacturing Wednesday, Jan. 4 Before the bell: UniFirst Corp (UNF) After the bell: Resources Connection (RGP), Richardson Electronics (RELL), Simulations Plus (SLP) 10:00 a.m. ET: ISM manufacturing PMI 10:00 a.m. ET: JOLTS job openings 2:00 p.m. ET: FOMC minutes Thursday, Jan. 5 Before the bell: Conagra Brands (CAG), Helen of Troy (HELE), Lamb Weston (LW), RPM International (RPM), Walgreens Boots Alliance (WBA), MSC Industrial (MSM), Schnitzer Steel (SCHN) After the bell: Duck Creek Tech (DCT), Franklin Covey (FC) 8:15 a.m. ET: ADP employment report 8:30 a.m. ET: Initial jobless claims 9:45 a.m. ET: Flash PMI services Friday, Jan. 6 Before the bell: Greenbrier Companies (GBX) 8:30 a.m. ET: Nonfarm payrolls 10:00 a.m. ET: Factory orders 10:00 a.m. ET: ISM services PMI (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Christmas tree lighting outside the NYSE, Nov. 30, 2022.

Source: NYSE

Markets closed out the week — and the year — in the red, as the so-called Santa Claus rally failed to materialize.

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Markets close out the year down, following light week of trading - CNBC
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Markets close out the year down, following light week of trading - CNBC

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