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[German Institute for Economic Research: The weakening of Germanys economic potential stems from a failed ecological transition] Fratzcher, director of the German Institute for Economic Research, said that the potential growth rate of the German economy may be below 1% within ten years. The weakening of Germanys economic potential stems from a failed ecological transition, an overreliance on fossil fuels and expensive imported energy sources, and a neglected transition to sustainable and innovative technologies.[Germanys main economic research institutions issued a joint report saying that the German economy faces long-term weakness] On the 29th local time, the main German economic research institutions, the German Institute for Economic Research, the German Institute for World Economic Research, the Leibniz Institute for Economic Research and the Ifer Institute for Economic Research The joint report issued stated that due to the shortage of skilled workers and high energy import prices, the German economy will face continuous weakness for many years. It is expected that the annual growth rate of the economy in the medium term will be less than 1%, which is far below the average level of the past 30 years.British Ministry of Defense: Ukrainian soldiers have arrived in the UK to receive training on the "Challenger 2" tank, which is expected to end in the spring.Qatari Foreign Minister: During his visit to Iran, he conveyed information from the United States to Iran.Market news: Iran and Qatars foreign ministers discussed the Iran nuclear deal.

NASDAQ, S&P 500, Dow Jones Analysis – Stocks Retreat As Traders Focus On Recession Risks

Steven Zhao

Jan 19, 2023 17:42


S&P 500 (SPX500)

S&P 500 found itself under pressure as traders reacted to the disappointing economic data.

Retail Sales declined by 1.1% month-over-month in December, compared to analyst consensus of -0.8%. Industrial Production declined by 0.7%, while Manufacturing Production decreased by 1.3%. Both reports missed analyst expectations.

The PPI report showed that Producer Prices declined by 0.5% in December. Treasury yields tested multi-month lows, as bond traders bet on a less hawkish Fed.

Lower Treasury yields did not provide any support to stocks as traders focused on recession risks. The pullback was broad, and all market segments moved lower. Consumer Defensive stocks were among the worst performers as Retail Sales data indicated that consumer activity was slowing down.


NASDAQ  declined towards the 11,450 level amid a broad market sell-off. Leading tech stocks have found themselves under pressure, although Apple and Alphabet were almost flat in today’s trading session.

It should be noted that lower Treasury yields provided some support to the tech-heavy NASDAQ, which outperformed S&P 500 and Dow Jones.

Dow Jones (US30)

Dow Jones remained under strong pressure after yesterday’s sell-off. While Goldman Sachs made an attempt to rebound, other Dow Jones components were moving lower.

Honeywell, IBM, and Coca-Cola were among the biggest losers in the Dow Jones today. Currently, Dow Jones is trying to settle below the 33,500 level. In case this attempt is successful, Dow Jones will move towards the 50 EMA at 33,290.