S&P 500 futures rise slightly in the final trading days of 2022

S&P 500 futures rise slightly in the final trading days of 2022
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European markets fall as caution approaches year-end

european markets fell back on Thursday as caution returned to global stocks, with investors assessing a number of potential headwinds in 2023.

the paneuropean Stoxx 600 The index fell 0.5% in early trading, with food and beverage shares shedding 1% to lead the losses as nearly every sector and major exchanges fell into the red.

The European blue chip index started Thursday’s session down more than 12% on the year.

-Elliot Smith

CNBC Pro: Tesla or Rivian? Pros Predict What 2023 Will Look Like For Both Stocks

It’s been a tumultuous year for electric vehicle stocks and two investor darlings, tesla Y Rivianthey have not been the exception.

What will next year be like for both stocks? CNBC Pro spoke to analysts and reviewed Wall Street research to find out.

CNBC Pro subscribers can read more here.

—Weizhen Tan

CNBC Pro: Tech is ‘down but by no means out’: Watch these stocks in 2023, says fund manager

It’s been a bad year for tech companies, and many investors have been wondering when tech stocks will recover.

Tech fund manager Jeremy Gleeson of AXA Investment Managers told CNBC Pro Talks last week that he still believes in the sector.

Explain why and name the shares to buy.

CNBC Pro subscribers can read more here.

—Weizhen Tan

All 11 sectors of the S&P 500 were down over the week and month

All 11 sectors of the S&P 500 suffered during regular trading on Wednesday, dragged down by energy companies.

Notable declines in the energy sector include EQT, which fell 7.8%, and APA, which fell around 5.2%. The losses came alongside falling prices for West Texas Intermediate and Brent crude, as well as natural gas.

The eleven sectors are limping on as the week begins to wind down. They all fall during the week, dragged down by communication services, which are down almost 2.7%. All sectors are also negative for December, with consumer discretionary leading the categories down and down around 13.3%.

However, the energy shines for the fourth quarter and the year. It has risen 19.6% in the last three months of the year and 56.4% in 2022.

Darla Mercado Chris Hayes

Cal-Maine’s latest results show consumers are paying nearly double for a dozen eggs

What does inflation look like these days?

Consumers are paying about twice as much for a dozen eggs as they did a year ago, driven in part by increased demand for specialty eggs, according to the latest results since Food Cal Mainethe largest producer of eggs in the country.

The average sales price per dozen eggs was $2.71 in the quarter ending November 2022, up from $1.37 in the same quarter a year earlier. That rise has outpaced rising feed costs, which have skyrocketed in recent years.

Supply and demand are driving prices up.

While the avian flu has affected industry supplies, Cal-Maine has continued to experience tremendous demand, especially for premium quality specialty eggs. Conventional egg volumes were actually 2% lower in the quarter, while specialty eggs saw a 24% increase in volumes.

There are a couple of reasons for this. Conventional egg prices have increased so much that they have surpassed specialty egg prices. Cal-Maine’s average price for conventional eggs last quarter was $2.88, more than 21% higher than the current price of $2.37 for specialty eggs.

So why pay for a conventional egg when you can get a less expensive specialty egg? Cal-Maine noted that the phenomenon has been a surprising trend of late: “Conventional egg prices have outpaced specialty egg prices for the past three quarters, but it’s historically an outlier.”

It’s also driving demand for specialty eggs: cage-free egg mandates in California and Massachusetts last January, as well as a trend of “more retailers switching to selling more cage-free products.”

Cal-Maine shares are up 68% in 2022. Still, shares are down about 5% in extended trading Wednesday.

—Robert Hum, Sarah Min

Stock futures open higher

US stock futures opened higher on Wednesday night as investors head into the final trading days of 2022.

Dow Jones Industrial Average futures added 38 points, or 0.09%. S&P 500 and Nasdaq 100 futures rose 0.12% and 0.15%, respectively.

—Sarah Min

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