Along with companies with ties to energy and health care, Randall Watsek, financial adviser at Raymond James Financial Inc., said"defensive" companies with proven track records of profit and reasonable valuations, such as consumer staple companies, also performed well.
Watsek pointed to Russia's invasion of Ukraine and high commodity prices driven by restrictive energy regulations in the United Sates for why energy stocks had a good year, and the Federal Reserve as the primary driver of the pullback into stocks with more reasonable valuations.in a series of high-profile rate hikes in a bid to bring down inflation and loosen the tight labor market.
The Covid-19 pandemic is also continuing to impact the stock market, according to Forrest McCall, owner of finance publication “Don’t Work Another Day.” The pandemic drove an increase in demand for oil and gas in 2021 and 2022 alongside the spike in gasoline prices during the early months of the Russia-Ukraine war.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nancy Pelosi's portfolio plunged 20% in 2022 stock market crash'Queen of Stonks' Nancy Pelosi's portfolio of stocks plunged 20% last year – meaning she even underperformed funds that track the struggling S&P 500 Is this true unusual_whales Ugly a f HouseOfCards
Source: BusinessInsider - 🏆 729. / 51 Read more »