The Labor Department also said that December’s producer price index – which measures how much suppliers are charging businesses for goods – was up 9.7% annually and 0.2% sequentially.
This morning, though, Delta Air Lines reported a larger-than-anticipated adjusted profit for its fourth quarter and its highest quarterly revenue since the pandemic began.
The S&P 500 Index lost 1.4% to 4,659 and the Dow Jones Industrial Average gave back 0.5% to 36,113.
“Investors need to go through a mental adjustment process and realize that the road ahead is likely to feature a few more bumps than the one traveled over the past 20 months,” he says.
We’ve also highlighted numerous high-conviction picks from the analyst community; most recently, breaking down RBC Capital Markets’ top 30 global stock investments for 2022.
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