Unemployment, Spending, and Income Improve..Markets Fall

By Timothy Sykes

Last updated on April 18, 2022
Unemployment, Spending, and Income Improve..Markets Fall Thumbnail

The markets closed out a volatile week in the red despite positive economic data.

On Thursday, the Department of Labor released its weekly unemployment claims data. The number of new claims fell to 730,000 — beating analyst estimates of 825,000.

On Friday, the Bureau of Economic Analysis released data on personal income and consumer spending. Personal income for January rose 10%, and consumer spending rose 2.4%. Both increases were driven by government stimulus payments that were approved in December.

Despite the improving economic data, the markets fell in a week of choppy trading.

The Nasdaq Composite, which fell as much as 6.2% during the week, ended the week down 4.9%

The S&P 500 closed the week near its lows, down 2.4%.

The Dow Jones was the best performing of the three major indexes. It posted a record high close on Wednesday but ended the week down nearly 1.9%.

In 2020, the last week of February marked the beginning of the worst crash in market history. The S&P 500 went to lose 34% of its value in just 23 trading days.

Posts contain affiliate links. Timothysykes.com may get compensated for affiliate posts and purchases through links.

Image: Aleksandar Grozdanovski/Shutterstock.com


How much has this post helped you?

star star star star star
Comments (1)
Author imageTimothy Sykes
Hey Everyone,

As many of you already know I grew up in a middle class family and didn't have many luxuries. But through trading I was able to change my circumstances --not just for me -- but for my parents as well. I now want to help you and thousands of other people from all around the world achieve similar results!

Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.

So when you get a chance make sure you check it out.

PS: Don’t forget to check out my 30 Day Bootcamp, it will teach you everything you need to know about trading.

Leave a Reply