By John Persinos
It's beginning to look a lot like Christmas. Despite continuing volatility and geopolitical headwinds, stocks and bonds racked up healthy gains in November.
The bear market is still with us, but equities seem to have found their footing, with the S&P 500 about 10% higher than its mid-October low. It's likely that we'll enjoy a "Santa Claus rally" in the final month of 2022, but nothing is certain and plenty of risks abound.
We got conflicting economic data Wednesday. Payroll processing firm ADP reported that private companies added only 127,000 positions in November, far below the consensus estimate of 190,000. That's a sign that the job market is cooling, which in turn might prompt the Federal Reserve to ease its aggressive tightening.
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