S&P 500 · November 10, 2022
The day inflation finally broke
+5.54%
single-day change vs previous close
Part of a longer stretch
The peak-inflation rally
early in it · 2022-10-12 → 2024-01-19, +35.30% over the whole period
What happened that day?
- On 10 November 2022 the S&P 500 rose 5.54% in a single day
- What weighed on the market all year was inflation and rates. While inflation ran, the Fed had no choice but to keep hiking
- That day's October inflation reading came in below expectations
- Inflation breaking means the hikes can stop, so the whole market moved on a single data release
- Tech, which rates had pressed hardest, rose most
- This was near the floor of the inflation bear market. The low had been 12 October and the old high returned in January 2024
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.