Charts suggest S&P 500 may struggle through early February

CNBC’s Jim Cramer mentioned Friday that technological investigation of Wall Street’s so-called dread gauge signifies the S&P 500 faces a hard outlook in the close to phrase.

“The charts, as interpreted by Mark Sebastian, counsel that the S&P 500 could continue to be in the household of soreness through early February,” the “Mad Dollars” host explained.

Even so, Cramer mentioned if the founder of OptionPit.com’s forecast proves suitable, “you want to hold your nose and use this weak point to invest in the stocks of top quality corporations that make actual items or supply true solutions and create genuine earnings.”

Sebastian’s outlook is rooted in his investigation of the CBOE Volatility Index, which steps the implied volatility of S&P 500 possibilities. The VIX stands at virtually 29 on Friday, a substantial increase from the place it was just above a week ago, when it traded in the 17s.

A chart displaying the rally in the VIX (bottom) and the declines of the S&P 500 (best).

Mad Revenue with Jim Cramer

“It rallied relentlessly for the last 3 weeks,” Cramer mentioned, which, in accordance to Sebastian, “is undesirable news for the stock current market.”

“When it rises like this, it means that traders have been getting defense for on their own just about every time the VIX attempts to back again off,” Cramer explained. “Even on days when the sector manages to rally, they you should not go to unwind individuals hedges, they obtain additional insurance policy.”

Sebastian thinks VIX futures also paint a troubling tale, Cramer said. They have started out to go into a condition of backwardation, Cramer reported. “In other words and phrases, the present volatility index is buying and selling at a premium to the February VIX futures, and the February futures are setting up to shift higher than the March futures,” he claimed.

VIX futures searching ahead in 2022.

Mad Income with Jim Cramer

This uncommon enhancement most recently transpired in March 2020, during the Covid pandemic offer-off, Cramer explained. It also happened in October 2018, when Wall Avenue was rattled by Federal Reserve motion.

“In shorter, fairly a great deal each individual time the marketplace sells off radically, Sebastian claims the VIX futures are inclined to go into backwardation about a third of the way through the devastation. Then the advertising carries on for a couple of more weeks,” Cramer said.

“However, which is the place he thinks we are proper now, simply because we are not working with a VIX spike, we’re working with a VIX swell, and people often previous lengthier than you’d like,” Cramer added.

Sign up now for the CNBC Investing Club to comply with Jim Cramer’s just about every shift in the market.

DVIDS – News – 1st TSC financial management analyst finds work purposeful and rewarding

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FORT KNOX, Ky. – She still left her initial love – New York Metropolis – for her Soldier in the rolling hills of Kentucky, and took a vocation leap by joining the 1st Theater Sustainment Command. That move has brought her a legitimate perception of objective in her function.

Andrea Peña, a financial administration analyst in the unit’s G-8 directorate, 1st TSC, gives a unique standpoint to the Very first Team, getting occur from the New York global tax environment. Known to her friends as Andie, she’s worked for some of the nation’s premier and most prestigious accounting firms.

Peña labored as an accountant at Deloitte LLP, KPMG LLP, and invested 10 many years with the American Intercontinental Group. She worked mainly in mergers and acquisitions, shareholder taxation, and intercontinental tax with AIG.

Her education organized her for the tax planet and intercontinental tax is typically in a significant city, so which is how she landed in New York. Peña has a bachelor’s diploma in accounting from the University of North Carolina at Pembroke, and was awarded a full-ride Scholarship to the College of Denver, exactly where she earned a master’s degree in taxation.

While residing in New York, Peña loved observing the New York Town Ballet and was a member of the Museum of Present day Artwork. She also routinely delighted in are living tunes and embraced all that would make it the “city that by no means sleeps.”

Peña was also overworked, putting in 70 to 80-hour get the job done months, and living aside from her spouse. So, immediately after 16 a long time of dwelling in the Massive Apple, she packed up her items and headed to Fort Knox – where she discovered a massive alter in her overall health the moment she arrived.

“I am the happiest and healthiest I’ve been in 20 years,” she proclaimed. Obtaining embraced so considerably of what the Fort Knox area offers, Peña contributes her rejuvenated everyday living to shelling out far more time outdoors, suffering from accurate operate/lifetime equilibrium, and last but not least dwelling with her husband of nine many years.

Given that arriving, Peña picked up operating and has appreciated looking at the wildlife on publish. She primarily runs early in the morning and sees deer, fox, rabbits, and many hen species. She has even been noticed running with the device, and has concluded the Military 10 Miler for the previous two yrs. Peña also likes working out and worked as a individual coach for seven many years.

The Colorado native likes hiking in her free of charge time, and now she has a good deal more of that.

In addition to the function/existence stability, Peña enjoys a lot of other pros of being a Department of Defense (DoD) staff. Nonetheless, her true gratification is observing the effects of her operate.

“I experience genuinely appreciated right here and that would make me want to get the job done really hard and give the best that I can to men and women,” she proclaimed.

Peña wasn’t confident how her schooling and practical experience would translate into a DoD civilian career, and crafting that initial resume was challenging. “I identified it tough to translate all of my knowledge into a complete 7-10 site resume,” she claimed.

“It’s so unique than worldwide tax,” she shared. “There, every thing is shareholder driven and you sense like you are doing the job your self to loss of life for something that doesn’t even profit you or any person you know. It’s for the CEO, board of directors, and the company’s earnings per share.”

Peña said that she gets a lot much more personal fulfillment functioning in this article. “With tax accounting, I was helping firms navigate or get all over tax regulations. It wasn’t always black and white.” She likes how the Army adheres to Typical Working Procedures and Economical Administration Restrictions.

As a spending budget analyst at 1st TSC, Peña will work mostly with the Standard Fund Company Enterprise Process, conducting analytics for money administration reporting, obligating money, and examining contracts and Government Acquire Card use. “If it involves dollars with the 1st TSC, then it arrives by our business,” she mentioned.

Andie also contributes considerably of her perform gratification to her terrific staff. “I am very lucky in G-8,” she claimed. “Boredom is the kiss of death to me, and I can’t be bored in G-8.”

“Getting into a new occupation discipline is really invigorating to me, and manufactured me want to study a lot more,” Peña explained. “I learn a thing new each working day at 1st TSC.”

Peña shared that whilst she isn’t generally the smartest person in the area, this tends to make her strive to always force herself to broaden her expertise base. “I had to study the acronyms and vernacular in addition to the funds cycle and appropriations,” she stated. She pressured that her leadership and staff has been vital in teaching and answering queries.

“After my 1st yr in this article, I made the decision that I needed to finish my vocation with DoD,” Pena emphasised. With her husband serving in the Army, Peña likes that she is supporting Soldiers.

Now residing on write-up with her spouse, Sgt. 1st Course Michael Hammon, who is effective at Army Human Assets Command, Pena reported, “It was really superior to transfer in with each other and establish a plan.”

The couple satisfied by a mutual mate, courted extensive length, married and lived aside, till they at last joined forces when she moved in this article to be with him. She left New York just in advance of the COVID-19 pandemic shut down the metropolis.

Their mutual pal believed they’d like each and every other, simply because they have widespread passions. “I’m a comedian reserve geek,” Peña proclaimed.

She attended New York’s Comic Conference yearly, and invited Hammon to show up at with her. “He even wore a costume,” she said. “I considered, all right, you might just be my perfect match.”

That match became her partner. Having said that, combining homes just took them more time. “Now my close friends say that I glow and appear more healthy,” she reported. “I feel like my shoulders finally arrived down, and I am capable to consider a move back and loosen up.”

In addition to her spouse, Mike, Andie shares her property with a exclusive companion. Mr. Pinkerton is her beloved cockatoo who made the trek with her from New York to Fort Knox.

“I like birds,” she reported. “I set up a couple chicken feeders for me and for Mr. Pinkerton. It’s develop into meta, she laughed.”

He would travel on the New York subway with Peña. Now he watches birds and other wildlife outside the house. She explained him as a magnet for men and women.

“I made use of to get him out in his mesh carrier and people cherished chatting to him,” she reported. “He utilised to dance and flap his wings with the performers in the subway.”

“As quickly as I walk by means of the doorway he says, ‘Come here’,” she stated.

He also says, “Hey, Pinkerton,” and “I appreciate you.” Because Peña tells him that he’s a great boy, he also says, “I’m a excellent boy.”

“He’s more entertaining than tv,” Peña reported.

Chook in tote, Peña made that go listed here which has modified her everyday living.

“Now I am carrying out something that I actually love and enjoy, and I never care as a lot about the cash, she stated.

Though she normally misses the significant city, Peña emphasised that, “This is the place I am intended to be at this stage in my existence!”

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Date Taken: 01.21.2022
Day Posted: 01.21.2022 16:03
Tale ID: 413235
Place: FORT KNOX, KY, US 

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What Are the Key Factors When Hiring Financial Analysts?

©Nuthawut Somsuk/iStock/Getty Visuals Plus

The economical industry commences the new yr owning largely been spared the results of the “great resignation.” But it is continue to the case that the labor marketplace writ huge has been in turmoil for the improved element of a calendar year, and companies in any vertical need to be conscious of that heightened volatility spreading in any direction.

Amid this kind of a risky employment ecosystem, it is additional imperative for establishments to use analysts that can go the length – and in get to do so, market leaders ought to formulate practical approaches for courting, evaluating, and bringing onboard new financial professionals.

Those in the place of hiring economical analysts for any corporation should create a minimum threshold of industry professionalism and know-how of finest methods to be fulfilled by all critical candidates. Having said that, in 2022, there are a lot of other things to take into consideration, even further than location a large experiential conventional. For occasion, it is unattainable to ignore the affect of technological innovation on the industry and how significant it is for industry experts to be in sync with these developments. And in the age of COVID-19, sustaining a healthier enterprise lifestyle is far more important than at any time. Small business leaders must think about these things and much more as they vie for security and overall performance in the months and a long time to arrive.

Professionalism

The landscape of financial scheduling and assessment (FP&A) is altering promptly, and analysts will have to have to preserve up with the most recent competencies if they hope to prosper. At a bare minimum amount, execs will have to be supremely confident in new hires’ skill to satisfy the fundamental competencies demanded of an FP&A experienced, which include examining economical wellness, monitoring economical KPIs, analyzing profitability and ROI for new jobs.

That explained, the capability to satisfy these desires is not ample. These primary competencies involve awareness of essential finance concepts and core processes, a technological potential to work seamlessly with quantities, and conversation and reporting.

The affect of technologies and data

There’s a motive why the Information Scientist role has emerged as just one of the most impactful of the electronic age. And whilst huge info is even now a relatively new concept, technological and functional know-how of information science is set to develop into a fundamental ability-established for any prospective FP&A seek the services of.

As digital interconnectivity results in being far more and additional pervasive and the lines among verticals proceed to blur, is it quick to forecast that economic analysts with backgrounds in AI and adaptive discovering know-how will be additional fascinating to employers. Anyone agrees that knowledge analytics is more and more essential to money products and services. It is whose duty details management really should be. This window of uncertainty, while the marketplace reckons with the response to that dilemma, is the ideal option for FP&A analysts to rise to the situation and grow to be ever much more worthwhile.

Get the job done tradition and natural environment

In FP&A technological know-how is only part of the even larger image, and FP&A is no exception. This features competencies like undertaking flexibility, the potential to imagine ahead, and knowing of present-day situations.

The most useful FP&A specialists are not essentially outlined by the extent of their specialized know-how and experienced techniques. Those money pros most ready to go the distance are individuals adept at going outside of the facts, which is generally rather minimal in its use if not related to a bigger image. It is a single detail to be in a position to exhibit fluency with information. It is yet another detail entirely to connect the dots and present the insights that underpin a company’s financials. CFOs are catching wind of the expanding gap between the portion of FP&A that is just range crunching and the portion that phone calls for an understanding of the indicating behind the numbers.

When it comes to using the services of anybody new for a business, especially in a financial role, the complete must be increased than the sum of its parts. HR reps will have to be trained to identify a promising ensemble of factors when they see it.

Equally as critical is that HR reps  account for the transforming perform dynamic of a put up-pandemic environment, getting a flexible and holistic solution to employees’ effectively-remaining.

Lastly, for a corporation to thrive, it need to realize an environment that facilitates synergy and structures roles in these kinds of a way as to market powerful collaboration and innovation. Acquiring the system correct will be no suggest feat — but organizations that handle to do so will reap large rewards in 2022.

Didi Gurfinkel is the CEO of DataRails.

The Nasdaq Composite is down 11{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} so far in 2022 and poised for worst start to a year since the 2008 financial crisis

To say it has been a tough commence for the know-how-heavy Nasdaq Composite Index might be the understatement of the younger calendar year.

Check out: Stock-industry warning signal: Here’s what surging bond yields say about S&P 500 returns in following 6 months

The Nasdaq Composite
COMP,
-2.72{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
was off about 11{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on Friday since the begin of 2022, at past test, marking a double-digit drop in the year’s first 14 sessions. The tumble has the index on observe for its worst start out to a year because 2008 when it tumbled 13.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the to start with 14 investing days, in accordance to Dow Jones Market place Knowledge.

On prime of that, the Nasdaq is now searching at its worst January general performance on file, courting back to the index’s inception in 1971.

Date

{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}Improve

01/21/2022

-11.29*

01/31/2008

-9.89

01/31/1990

-8.58

01/29/2016

-7.86

01/30/2009

-6.38

01/29/2010

-5.37

01/31/2005

-5.20

01/31/1978

-4.01

01/31/1973

-3.99

01/29/1982

-3.80

Resource: Dow Jones Market Info *incomplete thirty day period

Nearly every little thing that could go wrong for the benchmark has, so much. It is currently in the throes of a correction, immediately after finishing a decrease of at the very least 10{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from a the latest peak, assembly the frequently made use of definition for an asset correction in Wall Street parlance. The benchmark previous entered correction on March 8, and it at present stands 13{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from its Nov. 19 record peak, when also closing in on a bear market place, which is a decrease of at minimum 20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from a peak.

Browse: Get all set for the climb. Here’s what background suggests about inventory-current market returns for the duration of Fed charge-hike cycles.

The fairness gauge also breached its 200-working day moving common, which it hadn’t beforehand performed given that April of 2020, adding to a collection of bearish alerts for the Nasdaq Composite and highlighting the pain endured by traders in know-how and growth-oriented investments. Going averages are made use of by industry specialists to aid ascertain bullish and bearish momentum in an asset, and a trade beneath the 200-working day extended-phrase typical is usually viewed as a the dividing line involving a shorter-time period bearish pattern and a long-expression one particular.

To be positive, the fairness market place extra broadly is being sold by buyers as hazard hunger evaporates. However, tech investments have been dealt deeper losses. The Dow Jones Industrial Ordinary
DJIA,
-1.30{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
is down 5.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in January, and the S&P 500 index
SPX,
-1.89{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}
is off 7.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, as they trade 4.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and 5.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, reduce for the week consequently significantly.

Without a doubt, the fairness sector has been underneath siege at the very least partly because of the prospect of many desire-amount raises from the Federal Reserve, which meets yet again Tuesday and Wednesday. Increased costs can have a chilling impact on investments in speculative segments of the industry that depend greatly on borrowing, with investors discounting future funds flows. Chat of inflation also has put a damper on the sector and is a single of the important good reasons compelling the U.S. central financial institution to transform from a routine of quick-dollars to one of coverage tightening.

—Ken Jimenez and Michael Destefano contributed to this report

Suing the International Finance Corporation, and Chicago police’s destroy-or-sell policy

Petitions of the week

Jeffrey Fisher argues for the plaintiffs in Jam v. Intercontinental Finance Corp. in 2018. (Artwork Lien)

This 7 days we spotlight cert petitions that talk to the Supreme Court to consider, among the other factors, whether the Intercontinental Finance Company is immune from accommodate above its actions relating to the Tata Mundra Electricity Plant in Gujarat, India, and whether Chicago police’s plan of destroying or providing arrestees’ residence remaining unretrieved after 30 times violates the Fourth or Fifth Amendments.

The Overseas Sovereign Immunities Act’s commercial-exercise exception

On Tuesday, the Supreme Courtroom in Cassirer v. Thyssen-Bornemisza Collection Foundation listened to oral argument in a circumstance below the Foreign Sovereign Immunities Act about preference-of-regulation procedures. In Jam v. Worldwide Finance Company, the Supreme Court docket faces another challenge under the FSIA in a situation that is back right before the justices right after they remanded it to the U.S. Court docket of Appeals for the District of Columbia Circuit in early 2019. Jam started in 2015, when farmers and fishermen who reside near the Tata Mundra Energy Plant in Gujarat, India, as nicely as other petitioners, sued the IFC in federal district court docket in Washington, D.C. The petitioners alleged that the electrical power plant — which the IFC financed and authorized from its headquarters in Washington — has “devastated” the local surroundings and way of lifestyle. In the to start with Jam situation, the Supreme Court docket dominated that the IFC did not have absolute immunity as an international business, but only “restrictive immunity,” which means that plaintiffs could sue the IFC for promises involving its industrial action carried on in the United States, or they could sue if the IFC experienced waived its immunity.

On remand, the D.C. Circuit yet again ruled that the IFC was immune from the petitioners’ go well with. Initial, affirming the district courtroom, the courtroom of appeals reasoned that the FSIA’s commercial-action exception did not apply. Simply because the “construction and operation” of the ability plant in India were being what “actually injured” the petitioners, their claims ended up not centered on any of the IFC’s professional action in the United States. Second, even with language in the IFC’s charter stating that “[a]ctions may possibly be introduced against” it, the courtroom of appeals regarded alone “obliged” by precedent to obtain waivers of immunity only if a waiver would “benefit” the organization — and the courtroom reasoned that it would not in this scenario.

In their ask for for the justices’ assessment, the petitioners preserve that the D.C. Circuit developed a new circuit split with its technique to the FSIA’ business-action exception and invented its doctrine staying away from waiver in the encounter of seemingly simple textual content waiving immunity.

Chicago police’s destroy-or-offer plan

In Conyers v. City of Chicago, Illinois, Blake Conyers challenges the Chicago Police Department’s plan of selling or destroying the individual house seized from arrestees if the arrestee does not retrieve it within just 30 days. Immediately after the Chicago law enforcement destroyed an earring, a bracelet, and two cell phones belonging to Conyers (who was in pretrial detention when the 30 days handed), Conyers sued underneath the Fourth, Fifth, and 14th Amendments. The U.S. Courtroom of Appeals for the 7th Circuit affirmed the district court’s rejection of Conyers’ promises, in part on the floor that he had recognize of his have to have to reclaim home.

These and other petitions of the 7 days are under:

Conyers v. Town of Chicago, Illinois
21-898
Situation: Whether a municipality may possibly, steady with the Fourth and Fifth Amendments and pursuant to an express coverage, damage or provide residence seized throughout the stock search of an arrestee for the reason that the arrestee remains in custody awaiting trial for much more than 30 days and is unable to retrieve the residence.

Crow v. Fontenot
21-970
Situation: Irrespective of whether “new” proof, as referred to in Schlup v. Delo and McQuiggin v. Perkins, indicates evidence that was not out there at the time of trial or, less than the wide examining adopted below, encompasses any evidence, including evidence acknowledged by the defendant and/or obtainable with owing diligence, not offered at trial.

Idaho v. Howard
21-975
Challenge: Irrespective of whether, when officers lawfully deploy a narcotics-detection pet dog on the exterior of a motor vehicle and, without any course, prompting, or facilitation by officers, the canine briefly touches the motor vehicle or locations its snout through an open window, the dog’s perform constitutes a Fourth Amendment search by officers.

Helix Electrical power Answers Team, Inc. v. Hewitt
21-984
Concern: Irrespective of whether a supervisor making over $200,000 every single calendar year is entitled to additional time pay back since the standalone regulatory exemption set forth in 29 C.F.R. § 541.601 remains issue to the in depth prerequisites of 29 C.F.R. § 541.604 when pinpointing irrespective of whether highly compensated supervisors are exempt from the Good Labor Requirements Act’s overtime-fork out necessities.

Jam v. Intercontinental Finance Corporation
21-995
Troubles: (1) Irrespective of whether the professional activity exception to immunity for international sovereigns and worldwide businesses beneath the International Sovereign Immunities Act allows accommodate when the alleged functions of the defendant that give increase to its legal responsibility constitute industrial action carried on in the United States, regardless of no matter whether a further party’s carry out much more straight brought on the injury and (2) no matter whether a treaty provision stating that “[a]ctions may well be introduced towards the [international organization]” waives the organization’s immunity.

Stocks fall, Nasdaq drops as Netflix slides after subscribers miss

Stocks were on track to end a volatile week lower, with investors rotating further away from growth and technology stocks that had outperformed early on during the pandemic.

The S&P 500, Dow and Nasdaq fell during intraday trading. A day earlier, the Nasdaq Composite dropped more than 1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, adding to losses after sinking into a correction earlier this week. The Nasdaq has fallen nearly 12{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} from its most recent record high from November through Thursday’s close. 

Shares of Netflix (NFLX) sank more than 20{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} after the company posted a first-quarter subscriber growth outlook that fell far short of expectations, with the streaming giant projecting 2.5 million new users for the first quarter of 2022 versus the 6.3 million anticipated, according to Bloomberg data. Shares of Disney (DIS) and Roku (ROKU) fell in sympathy. Meanwhile, Peloton (PTON) — which had been another darling of the so-called “stay-at-home” trade during the pandemic — recovered some losses after falling to a near two-year low on Thursday, after CNBC reported the company was cutting production of its fitness products due to flagging demand. 

“It is these infamous stay-at-home plays … that had been bid up to valuations that get to the point where they’re priced for perfection,” Mark Luschini, chief investment strategist at Janney Montgomery Scott, told Yahoo Finance Live on Thursday. “Anything that is released about the companies’ investment results or prospects that doesn’t meet or exceed very elevated expectations leads to gigantic disappointment in the form of a share price decline.” 

“This is indicative of companies that, again, have valuations that have been bid up by investors who, on disappointment, decide to sell first and ask questions later, and therefore leave huge carnage in their wake as valuations compress to better reflect prospects under a more normal economic climate,” Luschini added.  

The drop in many closely watched, highly valued technology stocks — and the broader stock indexes — also came alongside ongoing investors jitters about a potential near-term move on interest rates from the Federal Reserve. The Fed’s next policy-setting meeting is set to take place next week, with market participants largely pricing in a first interest-rate hike out from the central bank after the Fed’s March meeting. These expectations for higher rates and less liquidity from the Fed this year have also been a key driver of recent equity price action, many strategists noted. 

“I think there is a rotation going on towards those areas of the market that have been neglected for a long time — not just months, but years. Areas like financials and energy. Even health care, which is an area that had done a bit better during the pandemic, but really isn’t seeing any kind of multiples like it did in the past,” Jeffrey Kleintop, Charles Schwab chief global investment strategist, told Yahoo Finance Live on Thursday. 

“I think those areas of the market have more durability here as we look at an environment where earnings growth is slowing so valuations matter more,” he added. “And many of these companies can look to generate earnings growth in this environment of rising interest rates and commodity prices, whereas tech is a bit more challenged as goods demand begins to slow.”

1:04 p.m. ET: ‘I certainly think technology and growth is going to be a sector you want to be in’ 

As the Nasdaq sinks further into a correction and individual technology stocks come under considerable pressure, some analysts see the pick-up of tech earnings season next week as the start of a potential reprieve for at least some of these growth names. 

“The re-thinking of valuations really just follows in the wake of rising interest rates. So we averaged 1.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on the yield on the U.S. 10-year for all of last year, and this year we likely average somewhere between 1.75{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996},” National Chief Market Strategist Art Hogan, told Yahoo Finance Live on Friday. “So that price and value calculation is obviously putting pressure on multiples across the technology complex.” 

“At some point in time we’ll look at this and say we’re probably overdone and we’ve taken too much multiple compression,” he added. “And what likely will be the signal that that’s the case will be when we get into earnings season in earnest next week … and see where the winners and losers really sit.” 

“I certainly think technology and growth is going to be a sector you want to be in [for] 2022,” Hogan said. “But I think you want to be in it in companies that measure themselves in price to earnings.”

10:40 a.m. ET: Leading Economic Index posts solid jump in December: Conference Board

An index tracking future domestic economic conditions accelerated in December, pointing to still-solid growth trends in the U.S. even amid ongoing concerns over the pandemic, inflation, and a more hawkish tilt to monetary policy. 

The Conference Board’s closely watched Leading Economic Index (LEI) rose 0.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in December, matching consensus estimates, according to Bloomberg data. This picked up from November’s 0.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} clip, which was downwardly revised from the 1.1{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} gain previously reported. 

“The U.S. LEI ended 2021 on a rising trajectory, suggesting the economy will continue to expand well into the spring,” Ataman Ozyildirim, senior director of economic research at The Conference Board, said in a press statement. 

“For the first quarter, headwinds from the Omicron variant, labor shortages, and inflationary pressures—as well as the Federal Reserve’s expected interest rate hikes—may moderate economic growth,” Ozyildirim added. “The Conference Board forecasts GDP growth for Q1 2022 to slow to a relatively healthy 2.2 percent (annualized). Still, for all of 2022, we forecast the US economy will expand by a robust 3.5 percent—well above the pre-pandemic trend growth.”

9:31 a.m. ET: Stocks open lower 

Here’s where markets were trading Friday morning: 

  • S&P 500 (^GSPC): -12.92 (-0.29{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 4,470.23

  • Dow (^DJI): -69.52 (-0.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 34,645.87

  • Nasdaq (^IXIC): -57.82 (-0.41{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,095.93

  • Crude (CL=F): -$0.60 (-0.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $84.95 a barrel

  • Gold (GC=F): +$0.10 (+0.01{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,842.70 per ounce

  • 10-year Treasury (^TNX): -7.8 bps to yield 1.756{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

9:27 a.m. ET: Bitcoin extends declines, falling to around $38,000

Cryptocurrency prices tracked the volatility across risk assets this week. 

Bitcoin, the largest cryptocurrency by market capitalization, saw prices sink by 10{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to below $38,000 at Friday’s lows, according to Yahoo Finance data. That marked the lowest level since early August.  

Other major cryptocurrency prices also sank. Ethereum fell by more than 12{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to about $2,800 Friday morning in New York. Solana prices sank 15{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to below $120. 

7:31 a.m. ET Friday: Stock futures hold lower, Netflix weighs on Nasdaq 

Here’s where markets were trading Friday morning:

  • S&P 500 futures (ES=F): -19.75 points (-0.44{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 4,455.00

  • Dow futures (YM=F): -68 points (-0.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 34,548.00

  • Nasdaq futures (NQ=F): -115.5 points (-0.78{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,725.50

  • Crude (CL=F): -$1.38 (-1.61{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $84.17 a barrel

  • Gold (GC=F): -$8.60 (-0.47{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to $1,834.00 per ounce

  • 10-year Treasury (^TNX): -5.3 bps to yield 1.781{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

6:01 p.m. ET Thursday: Stock futures open lower

Here’s where markets were trading Thursday evening: 

  • S&P 500 futures (ES=F): -17 points (-0.38{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 4,457.75

  • Dow futures (YM=F):—41 points (-0.12{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}), to 34,575.00

  • Nasdaq futures (NQ=F): -128.25 points (-0.86{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}) to 14,712.75

NEW YORK, NEW YORK - JANUARY 20:  Traders work on the floor of the New York Stock Exchange (NYSE) on January 20, 2022 in New York City. The Dow Jones Industrial Average was up over 200 points in morning trading following days of declines.  (Photo by Spencer Platt/Getty Images)

NEW YORK, NEW YORK – JANUARY 20: Traders work on the floor of the New York Stock Exchange (NYSE) on January 20, 2022 in New York City. The Dow Jones Industrial Average was up over 200 points in morning trading following days of declines. (Photo by Spencer Platt/Getty Images)

Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter

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