S&P 500 Index (SPX) - Daily Chart - Dec 1-30, 2022 (Source: Tradingview)

December 1

• Wall Street started the month in a holiday “red” as November’s upbeat momentum lost steam. 
• The Dow fell 195 points while the S&P lost a mere 0.09% and the Nasdaq eked out a 0.10% gain.
• Signs that inflation may be easing slowly gave a slight and short-lived boost to the market as economists focus on the upcoming jobs report. 
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December 2 

• Stocks ended the week mixed as the Nasdaq pulled back 0.40% and the S&P slipped 0.12% while Dow clawed back losses and ended in the green with a 34-point gain, the day;’s biggest winner.
• A higher-than-expected jobs report helped offset the fears of an imminent recession but set the stage for higher inflation.
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December 5

• The week started with stocks in the doldrum after a weak end to the previous week’s session. 
• The Dow plunged 583 points with the S&P and Nasdaq down 1.79% and 1.73% respectively. 
• Hot economic data scalded the market with the jobs report followed by a higher-than-expected November ISM reading.
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December 6

• Stocks fall further as recession fears emerge once again.
• The Dow fell 351 points while the S&P slipped by 1.44% and the Nasdaq tumbled 2.01%.
• Consumers take a defensive approach to the market as the utilities sector alone holds up the S&P. 
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December 7

• A choppy and seemingly stagnant market fluctuated throughout the day as the Nasdaq lost 0.45%, the S&P slipped 0.19%, and the Dow ended virtually unchanged after falling from a 178-point gain. 
• Multiple reads indicate that the rate of inflation is slowing down as bond yields fell lower while rate-sensitive stocks rose.
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December 8

• Wall Street does a 180 as the market rises for the first time in the week. 
• The Dow edged 183 points higher while S&P (+0.75%) and Nasdaq (+1.22%) stocks rose moderately.
• An unprecedented weekly jobless claim led investors to reconsider their fears over the possibility of a severe recession.
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December 9

• The market ended with losses after the only positive day of the week. 
• The Dow tumbled 305 points while the S&P slid 0.73% and the Nasdaq fell 0.64%.
• A higher-than-expected PPI report soured the mood as bond yields ticked higher. 
• Bear in mind that higher PPI inflation can sometimes mean higher consumer inflation in the months to come.
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December 12

• The week kicked off with a major market rebound as consumers shook off the previous week’s pessimism. 
• The Dow jumped 528 points as the S&P gained 1.43% and the Nasdaq rose 1.24%. 
• A glimmer of good news, namely that one-year inflation expectations had fallen short of expectations outweighed the fact that bond yields continued to creep upward.
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December 13 

• Stocks edged higher on rough ground as the Dow clawed a 103-point gain after going 700 points into the red while the S&P rose 0.73% and the Nasdaq jumped an impressive 1.09%. 
• A rally boosted by signs of slowing inflation lost steam as the upcoming Federal Reserve meeting came into focus.
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December 14

• Wall Street ended in the red this Wednesday as mixed news shaped the course of the market. 
• The Dow lost 142 points while S&P (-0.60%) and Nasdaq (-0.79%) stocks drifted lower to the session close. 
• An expected 50-point rate hike helped bring the market higher but sentiment around the end target rate hike brought the market back down to reality. 
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December 15

• The market continued its march downward as the previous Federal Reserve meeting weighed heavily on stocks. 
• The Dow plunged 764 points while the S&P lost 2.49% and the Nasdaq plummeted 3.37%.
• Investors wrestled with a darkening economic outlook while preparing for a possible recession in 2023. 
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December 16

• The market comes to the close of a tough week as stocks seem to be heading towards the first red December since 2018.
• The Dow fell 282 points while the S&P slid 1.11% and the Nasdaq lost 1.42%.
• While stocks and index futures/options expired, financials and big-cap tech stocks underperformed this session.
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December 19

• Wall Street edges lower as the S&P is red for the fourth session in a row while tech stocks continue to fall. 
• The Nasdaq suffered a loss of 1.42% while the S&P fell 0.90% and the Dow slid 163 points lower.
• Concerns of inflation led to further recession worries as investors began to feel a bit more uneasy with the Fed’s actions in slowing the economy.
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December 20

• The market closed higher and snapped a four-day losing streak while shaking off a surprise move from the Bank of Japan.
•  The Dow jumped 92 points and the S&P drifted 0.10% higher but the Nasdaq ended in the red by a mere 0.11%.
• The Bank of Japan tweaked bond yields to make room for the growth of long-term interest rates.
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December 21

• Market gains continue for a second day despite chip giant Micron deciding to lay off 10% of its workforce.
• The Dow was up 527 points while the S&P and Nasdaq had modest gains of 1.49% and 1.48%.
• Nike posted the strongest individual performance thanks to better-than-expected earnings, greatly boosting the Dow. 
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December 22

• A tough Thursday selloff led the major averages to close the day in the red. 
• The Dow fell 349 points while the S&P lost 1.45% and the Nasdaq slid 2.49%. 
• Micron’s laying off of 10% of its workers weighed down on the Nasdaq along with other semiconductor names underperforming the session. 
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December 23

• Wall Street closed the week slightly in the green after stocks rose from their lows on the first day that would be known as a “Santa Claus Rally”.
• The Dow rose 176 points, the S&P gained 0.59%, and the Nasdaq was up 0.27%. 
• Energy prices performed the best as Russia announced that it may cut its output as a response to the G7 price cap. 
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December 27

• Wall Street faced a choppy trading session right after the holiday break with mixed news sculpting the market. 
• Dow stocks rebounded from a 300-point fall and ended merely 37 points lower while the S&P sold 0.40% lower and the Nasdaq fell 1.48%. 
• Energy stocks rose with news that China would ease Covid restrictions while Tesla and Apple weighed down on the Nasdaq along with other tech stocks underperforming for the year. 
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December 28

• The market edged lower as an early-day rally turned sour, the Nasdaq bearing the worst of it once again.
• Dow stocks fell 366 points while the S&P fell by 1.20% and the Nasdaq, the biggest loser again, was 1.32% in the red. 
• A weaker-than-expected home sales report indicated the tolls that higher prices are taking on the housing market while rising bond yields continue to push down tech stocks. 
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December 29

• Wall Street recovered from Wednesday's losses as the Dow ended 345 points higher along with the S&P rising 1.75% and the Nasdaq gaining 2.54%, now the biggest winner of the session. 
• The Dow and the S&P broke into the green for the week while the Nasdaq drew toward breaking even. 
• Higher-than-expected weekly jobless claims helped reassure investors that the rate hike policy put in place by the Federal Reserve is showing its effects in the labor market.
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December 30 (Mid-day reporting)

• It appears as if stocks are going to end the last trading day of the year in the red.
• Mid-day, the Dow slipped 247 points, or 0.7%. The S&P 500 shed 0.8%, while the Nasdaq Composite fell 0.9%.
• All three indexes are heading for their worst year since 2008.