Stocks in 2022 face bumpy ride as S&P sits at record

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Stocks in 2022 face bumpy ride as S&P sits at record

SlateStone Wealth chief market strategist discusses the impact of inflation on the stock market on ‘Making Money.’

Equities are on quite a run in 2021 with the S&P 500, the broadest measure of U.S. stocks, sitting at a fresh record high and many strategists see the momentum continuing in the new year but not without some bumps.

Ticker	Security	Last	Change	Change %
SP500	S&P 500	4725.79	+29.23	+0.62%

“I think we need to get through one or two earnings periods to prove both businesses and consumers alike are as adaptable as they were during this first wave of the COVID virus. I think we could gradually grind higher, maybe if we are lucky, get to 5,100 next year,” UBS Managing Director and senior portfolio manager Jason Katz told FOX Business.

MIXED MESSAGES OF THE MARKET: JASON KATZ OF UBS

Ticker	Security	Last	Change	Change %
SPY	SPDR S&P 500

Intel is latest US company to apologize to China while pushing social justice at home

Check out what’s clicking on FoxBusiness.com.

Intel has apologized for discouraging suppliers from doing business with China’s Xinjiang region, after a letter published on its website sparked backlash from a Chinese state-run publication and social media users.

Citing government restrictions in multiple countries on products from the area, Intel said they were “required to ensure our supply chain does not use any labor or source goods or services from the Xinjiang region.” Now the company is trying to play damage control to quell the ire of their Chinese customers.

AMAZON REPORTEDLY TOOK DOWN REVIEWS OF CHINESE PRESIDENT’S BOOK AFTER DEMANDS

“We deeply apologize for the confusion caused to our respected Chinese customers, partners and the public,” Intel said in a statement reported by The Wall Street Journal, in which they claimed that the previous letter had only been issued to be in compliance with American legal requirements.

Ticker	Security	Last

Nasdaq, S&P rise 1% driving day two of stock gains

Advisor Group chief market strategist Phil Blancato and Chris Verrone of Strategas react to increased market volatility on ‘Making Money.’

U.S. stocks rose for the second straight session as traders digested positive economic news and the Food and Drug Administration’s approval of Pfizer’s COVID-19 pill for use in adults and children ages 12 and older.

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	35753.89	+261.19	+0.74%
SP500	S&P 500	4696.56	+47.33	+1.02%
I:COMP	NASDAQ COMPOSITE INDEX	15521.89237	+180.81	+1.18%

The Dow Jones Industrial Average rose 261 points or 0.6% building on its 560 point advance on Tuesday while the S&P 500 and Nasdaq Composite rose 1% each.

Positive economic data included an uptick in the Consumer Confidence Index to the best level since July, a better than expected 3Q GDP report of 2.3%, albeit well below July’s 6.7% jump and home sales that rose 1.9%.

And the fight

Kudlow: Save America, kill the bill … and defend the ‘deplorables’

‘Kudlow’ discusses wrongdoing as progressives relentlessly slam Democrat Sen. Joe Manchin for rejecting ‘Build Back Better’.

Save America. Kill the bill. The bill is dead. And now the blame game is on inside the Democratic Party.

It’s not really fair to call it a blame “game” because all they’re doing is attacking Joe Manchin.

MANCHIN KILLING BBB LIKEY SAVED US FROM ECONOMIC ‘DISASTER,’ EXPERTS SAY

Last Sunday, after Senator Manchin announced his “no” vote on Fox News, Madam Psaki quickly responded. No generosity. No “let’s talk about it in the new year.”

She ripped into Manchin. Undoubtedly, she was following the orders of the president or chief of staff Ron Klain or domestic policy adviser Susan Rice. It was more a temper tantrum than a policy response.

That’s no way to win friends and influence people. But all the far-left progressives had been going after Manchin.

MANCHIN SUGGESTS TAX, POLICY

Fox Business Poll: 7 in 10 say 2021 was a bad year for the country

Kaltbaum Capital Management President Gary Kaltbaum, Lyn Alden Investment Strategy founder Lyn Alden Schwartzer and Harris Financial Group Managing Partner Jamie Cox discuss the market selloff and buying opportunities amid inflation.

With rising prices, escalating crime rates, and the approach of year three of a global pandemic, 7 in 10 voters think it was another bad year for the country — and over half feel it was bad for them personally.

The new Fox Business survey of registered voters finds 70 percent say 2021 was a clunker for the country. While that is better than the 78 percent who felt that way about 2020, it’s still much worse than the 38 percent who called 2019 bad.

In addition, 55 percent feel this was a bad year for them personally. That too is an improvement from a high of 67 percent last year, but a far more negative assessment