S&P 500 · July 19, 2022
The summer earnings held up
+2.76%
single-day change vs previous close
Part of a longer stretch
The 2022 inflation bear market
near the end of it · 2022-01-03 → 2022-10-12, -25.43% over the whole period
What happened that day?
- On 19 July 2022 the S&P 500 rose 2.76%
- Second-quarter results were arriving in bulk, and they were not as bad as feared
- When prices rise, company revenues rise too. Firms that can pass costs on may even earn more
- So an inflationary period pulls sectors far apart. Only the companies that cannot raise prices get squeezed
- No single trigger can be pinned to this day
- In this stretch the index was 22.77% below its peak
- The summer rally topped out in mid-August
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.