Making sense of the markets this week: January 1, 2023 + MORE Dec 30th

Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines of the week and offers context for Canadian investors.

Before looking ahead to 2023, I just want to give a big “Thank you” to writer Dale Roberts and our editorial team, including Jon Chevreau, Lisa Hannam and Jaclyn Law, for filling in while I was on vacation. Dale wrote an excellent recap of 2022 last week, so I thought the natural follow-up would be to look ahead at the big picture for 2023.

First off, making predictions about investment outcomes and macroeconomic events is notoriously difficult. If you want to feel less badly about your job performance, look back at the predictions for 2022 most folks made this time a year ago. A general summary of “expert opinions” at the end of 2021 would likely go something along the lines of: 

“Coming out of COVID, the economy is ready to run wild. Never have consumers had more money in their pockets and the country with more jobs than people to fill them…

S&P 500 falls 19.4% in 2022, worst year since 2008 financial crisis  Yahoo Canada FinanceStocks fall as S&P ends worst year since 2008  CTV NewsU.S. stocks slide in an all-too-familiar 2022 playbook  BNN BloombergUS Stocks Suffer Worst Year Since Financial Crisis: Markets Wrap  Yahoo Canada FinanceWall St ends 2022 with biggest annual drop since 2008  Financial PostView Full Coverage on Google News