Wall Street wrapped up 2022 with the worst loss since 2008 due to various macroeconomic and geopolitical headwinds. However, the stock market finished January with impressive gains, with the Dow Jones, the S&P 500, and the Nasdaq Composite rallying 2.5%, 5.8%, and 10.8%, respectively.
Better-than-expected corporate earnings and encouraging inflation data allowed stocks to have a stellar start to this year. Inflation consistently retreated from its four-decade peak of 9.1% in June last year. December marked the sixth consecutive month of slowing inflation.
