Weekly Market Bullets

for the week ending 1/13/2023


  • US Equity Markets continued their rebound to start the year last week, as improving inflation data emboldened hopes that the Fed will not raise rates as much as feared. The S&P 500 was up 2.7% for the week to bring its gains for the year to 4.2%. The Nasdaq rallied 4.8% for the week and is now up 5.9% for the year, while the Russell 2000 (small cap stocks) surged 5.3% for the week to bring its gains for the year to 7.1%.


  • Global Equity Markets posted strong gains last week on better-than-expected economic growth out of Europe and rising hopes for friendlier central bank policies. Developed Markets increased 4.1% for the week and are now up 5.7% for the year. Emerging Markets were up 4.2% for the week to bring their gains for the year to 6.9%. 


  • Inflation decelerated for the sixth consecutive month in December. The Consumer Price Index (CPI) rose 6.5% in December from a year ago, in line with expectations and down from 7.1% in November and 9.0% back in June. Core CPI, which excludes food and energy prices, rose 5.7% in December from a year ago, down from 6.0% in November.
Of Interest to Us
  • Despite declining headline inflation data for December, services inflation, which the Fed watches closely, continued to accelerate. The year-over-year increase in services inflation in December was 7.5% vs. 7.2% in November. Food at Home (i.e. groceries) inflation was up 11.8% from a year ago vs. 12.0% in November. It is hard to believe the Fed will ease its rate hike efforts with such price increases still working through the economy.

Market Data

for the week ending 1/13/2023

If you have questions about the markets or would like to talk about your investments, please contact me at bfontana@invtrust.com or via phone at 704.940.3544.
Investors Trust Company helps its clients make sound financial decisions by providing strategic advice and asset management services with a high level of personalized attention. If we may help you or your clients with their investment management needs, please contact one of our Relationship Team members at trust@invtrust.com.