The big stories this week on Wall St

While Big Tech exchanged new year messages to staff for final pay slips to try tighten belts for a possible recession, it’s not all doom and gloom in 2023. Walmart lifted their minimum wage and the S&P 500 bounced up 6.5%. What other light could be peeping through the cracks?

Microsoft’s been busy. As the axe fell on staff they promised billions to ChatGPT creator OpenAI in a move that may make Google nervous. All this while they arm up against US bureaucrats trying to block their Activision Blizzard purchase. And that’s just January!

All eyes on Avatar: The Way of the Water to save a struggling movie industry. But despite a bumper opening weekend the big screen behemoth missed expectations. And not everyone’s an Avatard. Streaming services have upped the ante with holiday viewing. Is it enough to bring Xmas cheer?

Seems popular celebs have the SEC fed up and one well-known reality star has stumped up more than US$1 million in penalties for promoting a crypto token that’s since tanked. Now influencers accused of pump-n-dump activity have roused the ire of the SEC.

From Costco’s Aotearoa arrival to the market’s mauling, it’s been a bear of a year. And the popcorn’s still popping! Crypto’s winter’s become a crypto ice-age, Twitter’s new boss has made a splash, and Buffett’s big oil play’s seen big returns. Here’s our top 10 investing highs (and lows) for 2022.

The ink is dry on the US CHIPS and Science Act 2022, promising a US$200 billion investment into R&D and manufacturing of semiconductors Stateside. Intel broke ground on their Ohio factory and world-leading chipmakers, Taiwan Semiconductor Manufacturing Co., are quick to follow.

The Reserve Bank may be playing Grinch this Chrissie but we’ve found a bunch of Yuletide gifts that won’t bust the budget. From Costco bargains, books about money, to tickets to outdoor and indoor summer fun, we’ve found the gifts that keep on giving, with treats to enjoy while you shop.

Bad Bunny took out Spotify’s most-streamed artist in the world for 2022, but a bad bear market dominated investing. While the S&P 500 index was down 25% at its worst, share prices settled about 15% down overall. One industry dominated, and Buffett’s not mad about it.

Do we get lippy in a recession? 1998 research says when times are tough we splurge on luxury lipstick. Estée Lauder chair Leonard Lauder dubbed this the Lipstick Effect when he saw the trend play out after 9/11 and in 2008. So which company seems to be riding the recession wave with their sales sitting pretty?

Will chatbots replace Google anytime soon? Seems newly released chatbot, ChatGPT, can do anything, from rapping about wealth to telling your kids the truth about Santa. Hoping it doesn’t go the way of other chatbots that are a little bit racist. For now, anyway, Google looks safe.

2022 FIFA World Cup’s the biggest ticket in town and everyone wants to back a winner. Lloyds Banking Group has predicted their top choice, and Electronic Arts has simulated all 64 matches to pick theirs. The winning team takes home US$42 million and the runner up US$30 million.

Washed up? Nope, Buffett’s kicking on and having a ball. Berkshire Hathaway kicked off 2022 proving that banking on long term investing - holding companies for years and even decades - can even beat a bear market, with their share price up 5% so far this year.