Stock Market Today: Markets Start December Looking for Direction

Stocks started the final trading month of 2022 on a volatile note as traders and investors digested a flurry of economic reports and Wednesday’s comments from Federal Reserve Chairman Jerome Powell. (opens in a new tab).

A reading on US manufacturing activity contracted for the first time since the height of the pandemic, raising the specter of recession (opens in a new tab) in 2023. Apple (AAPL (opens in a new tab)) stocks continued to struggle with potential impact on iPhone production (opens in a new tab) of the COVID-19 lockdowns and civil unrest in China. Meanwhile, the Fed’s preferred measure inflation (opens in a new tab) showed that the prices of basic goods and services continued to moderate.


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