The Week 3 of 2022 US Stock Market News Recap

By Larry C. Paxton

The US Stock Market Week 3 Summary:

The Stock Market Bear, still smarting from his overwhelming loss to The Stock Market Bull in 2021, has made up for it a little bit by achieving the rare 3 weekly wins in a row trifecta to start out 2022. It has been a convincing string of wins. The shortened Week 3, with 4 trading days because of the Martin Luther King Jr Day observance on Monday, was The Stock Market Bear‘s most dramatic win, taking every one of the 12 trading sessions across the three major US stock indices by significant margins. The Omnicron COVID-19 variant, inflationary fears, anticipation of how the US Federal Reserve responds with interest rates, continuing supply logistics and hiring issues, US government difficulties in passing bills, another sure to be contentious election year starting to emerge, to name just a few problems, may help The Stock Market Bear make this into a longer term string of wins. But history says at some point in time The Stock Market Bull will return to even greater glory, but so far it has been a painful waiting period.

US Stock Market Indices Summary
Week 3 of 2022 Ending 01/21/22
	DJIA	NASDAQ	S&P500
Previous Year Close(12/31/21)	36,338.30	15,644.97	4,766.18
Previous Quarter Close(12/31/21)	36,338.30	15,644.97	4,766.18
Previous Month Close(12/31/21)	36,338.30	15,644.97	4,766.18
Record Close Date	01/04/22	11/19/21	01/03/22
Record Close	36,799.65	16,057.44	4,796.56
Week 2-Friday & Close(01/14/22)	35,911.81	14,893.75	4,662.85
Week 3-Monday(01/17/22)	35,911.81	14,893.75	4,662.85
Day Change	0.00	0.00	0.00
Day % Change	0.00%	0.00%	0.00%
Week 3-Tuesday(01/18/22)	35,368.47	14,506.90	4,577.11
Day Change	(543.34)	(386.85)	(85.74)
Day % Change	-1.51%	-2.60%	-1.84%
Week 3-Wednesday(01/19/22)	35,028.65	14,340.26	4,532.76
Day Change	(339.82)	(166.64)	(44.35)
Day % Change	-0.96%	-1.15%	-0.97%
Week 3-Thursday(01/20/22)	34,715.39	14,154.02	4,482.73
Day Change	(313.26)	(186.24)	(50.03)
Day % Change	-0.89%	-1.30%	-1.10%
Week 3-Friday & Close(01/21/22)	34,265.37	13,768.92	4,397.94
Day Change	(450.02)	(385.10)	(84.79)
Day % Change	-1.30%	-2.72%	-1.89%
Change-Week	-1,646.44	-1,124.83	-264.91
% Change-Week	-4.58%	-7.55%	-5.68%
Change-Month-to-Date	(2,072.93)	(1,876.05)	(368.24)
% Change-Month-to-Date	-5.70%	-11.99%	-7.73%
Change-Quarter-to-Date	(2,072.93)	(1,876.05)	(368.24)
% Change-Quarter-to-Date	-5.70%	-11.99%	-7.73%
Change-Year-to-Date	(2,072.93)	(1,876.05)	(368.24)
% Change-Year-to-Date	-5.70%	-11.99%	-7.73%
Change-Record	(2,534.28)	(2,288.52)	(398.62)
% Change-Record	-6.89%	-14.25%	-8.31%
The Stock Market Bull and Bear Tallies 2022 YTD
Week 3 Winner and Tally	Bear	3-0	Win
December Winner and Tally	Bull	3-0	Win
	Weeks	Months	2022 YTD
The Stock Market Bull	0	0	Losing
The Stock Market Bear	3	0	Winning
Mixed Result	0	0
Totals	3	0

Summary News Items for Week 3:

US Economic News

• Friday, January 21, 2022

• The Conference Board says the Preliminary December 2021 US Leading Economic Index(2016=100) is at 120.8, November was at 120.0, October 119.3. “For the first quarter, headwinds from the Omicron variant, labor shortages, and inflationary pressures—as well as the Federal Reserve’s expected interest rate hikes—may moderate economic growth. The Conference Board forecasts GDP growth for Q1 2022 to slow to a relatively healthy 2.2 percent (annualized). Still, for all of 2022, we forecast the US economy will expand by a robust 3.5 percent—well above the pre-pandemic trend growth.”

• Thursday, January 20, 2022

• The Natl Assn of Realtors says Preliminary December 2021 US Existing Home Sales Annual Rate is at 6,180,000, November was at 6,470,000, October 6,340,000, December 2020 6,650,000, December 2019 5,530,000; December 2021 US Existing Home Sales Median Price is at $358,000, November was at $353,900, October $353,900, December 2020 $309,200, December 2019 $274,500. “This year, consumers should prepare to endure some increases in mortgage rates… I also expect home prices to grow more moderately by 3% to 5% in 2022, and then similarly in 2023 as more supply reaches the market.”
• The US Federal Reserve Bank of Philadelphia says the Preliminary January 2022 3rd District Manufacturing General Activity Indicator is at +23.2, December was at +15.4, November +39.0, January 2021 +26.5, January 2020 +13.7. “The survey’s indicators for general activity, shipments, and new orders posted modest increases after falling sharply last month. The employment index remained positive but decreased. The price indexes remained elevated. Responding firms remained generally optimistic about growth over the next six months.”

• Wednesday, January 19, 2022

• The US Dept of Commerce/HUD says the Preliminary December 2021 US New Residential Building Permits Issued Annual Rate is at 1,873,000, November was at 1,717,000, October 1,653,000, December 2020 1,758,000, December 2019 1,457,000.
• The Natl Assn of Home Builders/Wells Fargo Preliminary January 2022 US Housing Market Composite Index is at 83, December was at 84, November 83, January 2021 83, January 2020 75. “… The most pressing issue for the housing sector remains a lack of inventory. Building has increased but the industry faces constraints, namely cost/availability of materials, labor and lots. And while 2021 single-family starts are expected to end the year about 25% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.”

• Tuesday, January 18, 2022

• The US Federal Reserve Bank of New York says the January 2022 Empire State Manufacturing Survey General Business Conditions Index is at -0.7, December was at +31.9, November +30.9, January 2021 +3.5, January 2020 +3.3. “New orders declined slightly, while shipments held steady. Delivery times continued to lengthen, and unfilled orders increased. Labor market indicators pointed to a moderate increase in employment and a longer average workweek. Both price indexes moved lower, but remained elevated. Plans for capital and technology spending were strong. Looking ahead, firms remained optimistic that conditions would improve over the next six months.”

• Monday, January 17, 2022

• ***Martin Luther King, Jr., Day Observed.
  ***US Federal Government Offices Closed.
  ***US Post Office Closed.
  ***US Stock Exchanges Closed.

US Government/Other News

• The Omnicron COVID-19 variant pandemic continues to reach new highs in the US, but appears to start leveling off by the end of the week. US President Biden says the US government will be giving away 400 million N95 masks.
• In his first press conference of 2022 US President Biden says his “Build Back Better” legislation will probably have to broken up into several legislative pieces as the US Senate is unable to override traditional filibuster rules.
• US airlines and airports express concerns over the implementation of 5G networks by major communications vendors near airports because of possible issues with aircraft and airport communications gear.
• The US stock market takes a deep dive for the 3rd week in a row because of inflationary concerns, the US Federal Reserve indicating plans to aggressively increase short term interest rates, increasing initial jobless claims, international issues, and mixed initial 4Q2021 corporate earnings reports, especially from technology companies.
• Russia continues to build up troop strength along the Ukraine border increasing tensions in the area. Negotiations by the US and NATO allies have not had any diplomatic breakthroughs as talks continue.
• A major UAE Abu Dhabi oil facility is hit by a drone attack apparently by Iran-backed Yemen Houthi rebels.
• An undersea volcanic eruption in the islands country of Tonga wipes out villages and communications. The eruption could be heard over 2,000 miles away. International relief efforts are stalled because of the destruction, the major airport being closed because of the ash. By the end of the week some supplies were finally arriving.

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