The Monday Mix: February 6 – 12, 2023

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S&P 500 earnings for 4th quarter 2022 are down 4.9% (based on nearly 70% of companies reporting), the first downturn since the 3rd quarter 2020.

The S&P 500 and Nasdaq had their worst week since Dec. 16, 2022, as an uncertain inflation outlook and lower earnings dogged stocks.

US mortgage applications rose for the 4th time in 5 weeks but are down 58% from a year ago; 33% of apps were for refinancing.

An estimated 100,000 new US jobs will be created in renewable energy and other “green” sectors by the Inflation Reduction Act of 2022.

The UK narrowly avoided recession in 2022 after the economy saw zero growth between October and December.

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