The Week 2 of 2022 US Stock Market News Recap

By Larry C. Paxton

The US Stock Market Week 2 Summary:

At the close on Wednesday The Stock Market Bull was ahead for the week. But on Thursday The Stock Market Bear charged onto the pasture, scattered the herd, and took a big bite out of some. The Stock Market Bull made a feeble recovery on Friday but it was not nearly enough. The Stock Market Bear starts out 2022 with two weekly wins. Will he get the trifecta next week?

US Stock Market Indices Summary
Week 2 of 2022 Ending 01/14/22
	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 1-Friday & Close(12/31/21)	36,231.66	14,935.90	4,677.03
Week 2-Monday(01/10/22)	36,068.87	14,942.83	4,670.29
Day Change	(162.79)	6.93	(6.74)
Day % Change	-0.45%	0.05%	-0.14%
Week 2-Tuesday(01/11/22)	36,252.02	15,153.45	4,713.07
Day Change	183.15	210.62	42.78
Day % Change	0.51%	1.41%	0.92%
Week 2-Wednesday(01/12/22)	36,290.32	15,188.39	4,726.35
Day Change	38.30	34.94	13.28
Day % Change	0.11%	0.23%	0.28%
Week 2-Thursday(01/13/22)	36,113.62	14,806.81	4,659.03
Day Change	(176.70)	(381.58)	(67.32)
Day % Change	-0.49%	-2.51%	-1.42%
Week 2-Friday & Close(01/14/22)	35,911.81	14,893.75	4,662.85
Day Change	(201.81)	86.94	3.82
Day % Change	-0.56%	0.59%	0.08%
Change-Week	-319.85	-42.15	-14.18
% Change-Week	-0.88%	-0.28%	-0.30%
Change-Month-to-Date	(426.49)	(751.22)	(103.33)
% Change-Month-to-Date	-1.17%	-4.80%	-2.17%
Change-Quarter-to-Date	(426.49)	(751.22)	(103.33)
% Change-Quarter-to-Date	-1.17%	-4.80%	-2.17%
Change-Year-to-Date	(426.49)	(751.22)	(103.33)
% Change-Year-to-Date	-1.17%	-4.80%	-2.17%
Change-Record	(887.84)	(1,163.69)	(133.71)
% Change-Record	-2.41%	-7.25%	-2.79%
The Stock Market Bull and Bear Tallies 2022 YTD
Week 2 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	2	0	Winning
Mixed Result	0	0
Totals	2	0

Summary News Items for Week 2:

US Economic News

• Friday, January 14, 2022

• The US Dept of Labor says “The price index for U.S. imports declined 0.2 percent in December, the first monthly decrease since the index fell 0.2 percent in August 2021. Despite the December drop, U.S. import prices increased 10.4 percent over the past year. The advance in 2021 was the largest calendar-year rise since import prices increased 10.6 percent in 2007… U.S. export prices decreased 1.8 percent in December, after advancing 0.8 percent in November and 1.9 percent in October. The December decline was the largest 1-month drop since the index fell 3.5 percent in April 2020. Despite the December decrease, U.S. export prices rose 14.7 percent from December 2020 to December 2021. The 2021 advance was the largest calendar-year increase since the series was first published in 1984.”
• The Federal Reserve reported “Industrial production declined 0.1 percent in December. Losses of 0.3 percent for manufacturing and 1.5 percent for utilities were mostly offset by a gain of 2.0 percent for mining. For the fourth quarter as a whole, total industrial production rose at an annual rate of 4.0 percent. At 101.9 percent of its 2017 average, total industrial production in December was 3.7 percent higher than it was at the end of 2020 and 0.6 percent above its pre-pandemic (February 2020) reading. Capacity utilization for the industrial sector edged down 0.1 percentage point in December to 76.5 percent, a rate that is 3.1 percentage points below its long-run (1972–2020) average.”
• The US Dept of Commerce/Census reports that “Sales: The combined value of distributive trade sales and manufacturers’ shipments for November, adjusted for seasonal and trading day differences, but not for price changes, was estimated at $1,723.7 billion, up 0.7 percent (±0.2 percent) from October 2021 and was up 17.6 percent (±0.6 percent) from November 2020. Inventories: Manufacturers’ and trade inventories for November, adjusted for seasonal and trading day differences, but not for price changes, were estimated at an end-of-month level of $2,158.2 billion, up 1.3 percent (±0.1 percent) from October 2021 and were up 8.7 percent (±0.5 percent) from November 2020. Inventories/Sales Ratio: The total business inventories/sales ratio based on seasonally adjusted data at the end of November was 1.25. The November 2020 ratio was 1.35.”
• The US Dept of Commerce/Census reports Advance estimates of U.S. retail and food services sales for December 2021, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $626.8 billion, a decrease of 1.9 percent (±0.5 percent) from the previous month, but 16.9 percent (±0.9 percent) above December 2020. Total sales for the 12 months of 2021 were up 19.3 percent (±0.5 percent) from 2020. Total sales for the October 2021 through December 2021 period were up 17.1 percent (±0.7 percent) from the same period a year ago. The October 2021 to November 2021 percent change was revised from up 0.3 percent (±0.5 percent)* to up 0.2 percent (±0.3 percent)*. Retail trade sales were down 2.1 percent (±0.4 percent) from November 2021, but up 14.4 percent (±0.7 percent) above last year. Gasoline stations were up 41.0 percent (±1.6 percent) from December 2020, while food services and drinking places were up 41.3 percent (±4.0 percent) from last year.
• The U of Michigan Preliminary January 2022 US Consumer Sentiment Index is at 68.8, December was at 70.6, November 67.4, December 2020 80.7, December 2019 99.3. “Sentiment posted a small loss in early January (-2.5%), falling to the second lowest level in a decade, which was recorded in November (67.4). The Sentiment Index has averaged just 70.3 in the past six months, whereas in the first six months of 2021 it averaged 82.9. While the Delta and Omicron variants certainly contributed to this downward shift, the decline was also due to an escalating inflation rate…..”

• Thursday, January 13, 2022

• The US Dept of Labor says the Preliminary December 2021 US Producer Price Index Total Monthly Change in Final Demand is at +0.2%, November was at +1.0%, October +0.6%, December 2020 +0.3%, December 2019 +0.3%; December 2021 US Producer Price Index Total Last 12 Months Change in Final Demand is at +9.7%, November was at +9.8%, October +8.9%, December 2020 +0.8%, December 2019 +1.4%.

• Wednesday, January 12, 2022

• The US Dept of the Treasury says the December 2021 US Federal Government Receipts are at $486.7 billion, Outlays $508.9 billion, making December 2021 US Federal Government Deficit at $21.3 billion, November Deficit was at $191.3 billion, October Deficit $165.1 billion, December 2020 Deficit $143.6 billion, December 2019 Deficit $13.3 billion; December 2021 Deficit YTD(3 months) is at $377.7 billion, December 2020 Deficit YTD $572.9 billion, December 2019 Deficit YTD $356.6 billion.
• The US Dept of Labor says the Preliminary December 2021 US Current Average Earnings/Hour is at $31.31, Average Hours Worked/Week is at 34.7, making December 2021 Current Average Earnings/Week at $1,086.46, November was at $1,079.86, October $1,076.05, December 2020 $1,037.88, December 2019 $973.09.
• The US Dept of Labor says the December 2021 US Consumer Price Index Monthly Change is at +0.5%, November was at +0.8%, October +0.9%, December 2020 +0.2%, December 2019 +0.2%, December 2021 Last 12 Months Change is at +7.0%, November was at +6.8%, October +6.2%, December 2020 +1.4%, December 2019 +2.3%.
• The US Federal Reserve releases the Beige Book for data through 01/03/22, says, “Economic activity across the United States expanded at a modest pace in the final weeks of 2021. Contacts from many Districts indicated growth continued to be constrained by ongoing supply chain disruptions and labor shortages. Despite the modest pace of growth, demand for materials and inputs, and demand for workers, remained elevated among businesses.”

• Tuesday, January 11, 2022

• CoreLogic says the October 2021 US Home Mortgages 30 or more Days Delinquent are at 3.8%, September was at 3.9%, August 4.0%, October 2020 6.1%, October 2019 3.7%. “Economic recovery and loan modification have helped reduce the number of loans that were in serious delinquency by just over one million from the August 2021 peak. Nonetheless, there were about one-half million more loans in serious delinquency in October than at the start of the pandemic in March 2020.”

• Monday, January 10, 2022

• The US Dept of Commerce/Census says the Preliminary November 2021 US Wholesale Sales-Durables is at $292.0 billion, Non-Durables $338.8 billion, making November 2021 US Wholesale Sales Total at $630.8 billion, October was at $622.4 billion, September $606.9 billion, November 2020 $511.7 billion, November 2019 $497.9 billion.

US Government/Other News

• US President Biden orders 500 million more COVID test kits, will also be shipping kits to schools, providing free masks.
• The US Supreme Court blocks vaccine-or-test rules for big businesses.
• US hospitals nationwide report that they are nearly maxed out with COVID-19 cases, hospitalizations have reached record highs from January 2021.
• The surge in the Omnicron COVID-19 variant is expected to peak by the end of January.
• US Federal Reserve Chairman Jerome Powell testifies at his confirmation hearing in the US Senate, says he expects Fed to raise interest rates in 2022 to slow down inflation, to phase out buying of securities.
• US President Biden suggests that the US Senate change its filibuster rules so that it can vote on in limbo voting rights bills.
• Tensions continue to mount over concerns of a possible invasion by Russia into Ukraine, Russia says it is just doing military exercises in the area.
• N Korea launches some more missiles.

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