Before the Weekend: Key Take-Aways From Financial Markets Today (December 16th, 2022)
Overall Macro News
Italian leaders are upset at the ECB over constantly increasing rates and hawkish policy stances.
The annual Santa Claus rally is poised to not repeat this year in the stock market as central banks around the world adopt a more hawkish tone to fight inflation. The American, European, English, and Swiss central banking authorities all raised their benchmark rates by 50 bps this week.
Earnings & Company News
Private Equity firm Advent International has agreed to purchase Maxar Technologies, the Satellite owner/operator firm, and make it private, valuing the firm at $6.4 billion ($53/share).
Accenture’s shares declined after the firm reported that the strong dollar will impact fiscal 2023 results.
Ford increases price of the F-150 lighting. The price of the vehicle has increased 40% from when it was originally launched.
International News
Jordan: Authorities to crack down on protests over high fuel and energy costs.
China has been experiencing a spike in Covid while it pivots away from Zero-Covid policy.
Wealthy Norwegians are going to Switzerland with its low taxes fleeing the wealth levy in Norway.
Real Estate News:
New York City construction starts have fallen 68% between Q2 & Q3 of this year.