Category: insight
2 Min read | November 09, 2022

Market Monitor November 2022

  • Commentary
  • Market Monitor
Close-up of stock price graphs on a computer screen.

The NEI team examines what drove markets through October, including the possibility of a slower tightening by the Fed, weaker growth projections, and market reactions to Q3 earnings.


Download full commentary  


Central Banks decelerating rate hikes, but may take longer to get to peak


Central banks have front loaded their tightening cycles with oversized rate hikes throughout the year, but that could change as policy leaders may take a more cautious approach going forward as they analyze how higher rates are impacting different parts of the economy. A slower pace of tightening may result in a longer journey to peak rates.


Economic growth weakens as monetary tightening takes effect


The lagging impact of monetary tightening is starting to show up as Manufacturing PMI is contracting and GDP growth projections weaken in the year ahead. On the other hand it appears inflation may finally be moderating according to recent data on input prices, supply chains and food prices.


No patience for earnings misses


US equities have been buoyed by a relatively benign earning season given low expectations. However, companies that missed earnings—including mega-caps like Alphabet, Amazon and Google—have seen significant drops in share price as investors expect slower earnings growth in Q4.


Download full commentary

We also recommend reading:

4 Min read | May 21, 2022

Focus on: inequality
  • ESG
  • Inequality
Read more

2 Min read | Nov 16, 2021

Supporting a surge in shareholder proposals
  • ESG
  • Active ownership
Read more

4 Min read | Mar 28, 2022

Focus on: net zero
  • ESG
  • Net zero
Read more

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. This material is for informational and educational purposes, and it is not intended to provide specific advice including, without limitation, investment, financial, tax or similar matters. The views expressed herein are subject to change without notice as markets change over time. Information herein is believed to be reliable, but NEI does not warrant its completeness or accuracy. Views expressed regarding a particular security, industry or market sector should not be considered an indication of trading intent of any funds managed by NEI Investments. Forward-looking statements are not guaranteed of future performance and risks and uncertainties often cause actual results to differ materially from forward-looking information or expectations. Do not place undue reliance on forward-looking information.