5 Things to Know Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. Andrew Kelly | Reuters
Here are the most important news items that investors need to start their trading day:
1. Desperately seeking Santa
Ho ho ho? More like, no no no. It’s been a terrible week for stocks, and hopes of a Santa Claus rally are fading. U.S. equities are on the verge of their second straight losing week. Markets fell steeply Thursday as investors digested Federal Reserve Chairman Jerome Powell’s hawkish remarks and outlook from the day before. Sluggish retail sales heading into the holidays didn’t help, either, even though they indicated a slowing economy, which is what the Fed wants as it tries to beat back inflation. Instead, it’s shaping up to be an environment where the Fed keeps rates higher for a longer period of time, regardless of what happens in the next few months. Read live markets updates here.
2. Twitter targets journalists STR | Nurphoto | Getty Images
Twitter suspended the accounts of several journalists and commentators who report on the company and its owner, billionaire Tesla CEO Elon Musk. As of Thursday night, the social media platform had suspended the accounts of Ryan Mac of The New York Times, Donie O’Sullivan of CNN, Drew Harwell of The Washington Post, Matt Binder of Mashable, Micah Lee of The Intercept, Steve Herman of Voice of America, as well as independent figures Aaron Rupar, Keith Olbermann and Tony Webster. Musk, who has billed himself as a “free speech absolutist,” suggested on Twitter that the journalist