This article is part of our morning briefing. Click here to get it delivered to your inbox each weekday. Our 10 most-read stories on antisemitism in 2022   It was a year bookended by antisemitism: 2022 began with a hostage-taking at a synagogue in Colleyville, Texas, and ended with Kanye West’s very public downfall. (For those keeping score at home, here’s every antisemitic thing Kanye has said.)   The Anti-Defamation League says antisemitic incidents are trending higher this year in several major cities compared to 2021, itself a record year. And here at the Forward, articles about antisemitism were some of our most-read.   No storyline is more central to our journalism, or more important to our audiences, than antisemitism. We cover it in all its facets — brief items about hate crimes and hate speech here in this newsletter, critical analyses of data and explainers of extremist movements, opinion essays and deep investigative dives.     Given its prominence in the headlines, our news editor, Lauren Markoe, decided to compile the 10 most-read stories about antisemitism of 2022. The No. 1 story on the list was also the single most-read page on our website overall: Sharon Rosen Leib’s open letter to Dave Chappelle after his Saturday Night Live monologue about West.    Five others on the list were also about West or how others reacted to him. Another focused on NBA star Kyrie Irving’s tweeting of a link to an antisemitic movie. And two delved into antisemitism on college campuses. See the list ➤ A postscript: That rabbi who threw a chair at the hostage-taker in Texas and saved his congregants? He ended the year at the White House, lighting the Hanukkah menorah with President Biden. (iStock) We’ve been making lists and checking them twice… The 18 biggest Jewish stories of 2022: Antisemites came out of the shadows this year — as did Jewish heroes. The best Jewish (and Jew-ish) movies of 2022: A Spielberg fable and documentaries spanning music and politics made our list. Why was 2022 the year TV turned really, really Jewish? Not in that superficial way with an out-of-focus mezuzah visible in the distance or someone saying something in Yiddish. We mean the deep stuff. The top eight Jewish sports moments of 2022: Jews across sports shined on the international stage at the Maccabiah Games, the Beijing Olympics and the World Cup.  The year in Jewish ideas: Andrew Silow-Carroll of the New York Jewish Week walks through the debates we had on book bans, Ukraine and the end of Roe. Check out all our “Best of 2022” coverage. ALSO FROM THE FORWARD Israeli Prime Minister Benjamin Netanyahu chaired the first cabinet meeting of his new government on Thursday. (Getty) Opinion | American journalists need to start fact-checking Netanyahu in real time: In recent interviews with U.S. news outlets and podcasts, incoming Prime Minister Benjamin Netanyahu has been “distorting, dissembling and exploiting the lack of knowledge of his interviewers,” says Paul Gross, who lives in Jerusalem and writes and lectures on Israeli politics. As Netanyahu ushers in the most right-wing government in Israel’s history, Gross implores international journalists to shine a light on the prime minister’s assertions. “American journalists must treat Netanyahu not as the center-right leader he claims to be,” Gross writes, “but as what he is: the leader of a government that rejects the liberal principles upon which both the United States and Israel were founded.” Read his essay ➤   Israel’s ambassador to France resigned Thursday to protest Netanyahu’s new right-wing government, saying its plans “go against my conscience, my worldview, and the underlying promises of the declaration of independence of a Jewish and democratic state.” Read the story ➤   Hundreds protested Congressman-elect George Santos’s litany of lies at a Long Island event on Thursday, condemning his exploitation of the Holocaust for political gain. ‘Fake Jew, real gonif’ read one sign. And late last night The New York Times published another investigative scoop showing Santos may have misused campaign funds for personal travel and living expenses. Read the story ➤ Video of a woman trying to remove antisemitic and Holocaust-denying signs on an Iowa highway overpass went viral this week, racking up more than 1.8 million views. Read the story ➤ A message from our sponsor: Zelikow Earn your master’s degree while you work Current Jewish professionals are eligible for 100% combined scholarship coverage with the Midcareer Fellowship. Learn More WHAT ELSE YOU NEED TO KNOW TODAY The opulent ark at the Forest Hills Jewish Center was designed by the late artist Arthur Szyk. (Courtesy) 🕍  When a Queens synagogue dedicated its postwar building in 1949, its opulent ark stood out. Now the congregation is moving, and the fate of the ark is in limbo; some museums have turned it down because of its 26-foot height. One Judaica expert calls it “a tour de force of Jewish art.” (NY Jewish Week)   🇮🇷  An Iranian author has reportedly been sentenced to death for giving an interview to an Israeli TV station. In the interview, the author, Mehdi Bahman, criticized the regime in Tehran and the imposition of Islamic law and called for establishing diplomatic and economic relations between Israel and Iran. (Times of Israel)   🌎  Americans who pray daily, regularly attend religious services and consider religion crucial in their lives are far less likely than other U.S. adults to express concern about global warming, a new poll has found. (AP)   🇮🇱  Prime Minister Benjamin Netanyahu has created several new ministries for far-right and religious members of his coalition that address Jewish identity and could further erode relations with American Jews, the Haaretz columnist Anshel Pfeffer argues in a new opinion essay. (NYT)    ⏱️  Is Judaism a younger religion than previously thought? A new book by an Israeli archaeologist suggests that common Jewish practices emerged only a century or so before the birth of Jesus, and not nearly 4,000 years ago. (Smithsonian Magazine)   ⚾  Meet Alon Leichman, 33 and apparently the first Israeli-born athlete to make it to Major League Baseball — as an assistant pitching coach for the Cincinnati Reds. “His journey has been unlikely, verging on preposterous,” Elli Wohlgelernter writes of Leichman in a new profile from the Jewish Telegraphic Agency. “How could someone from Israel, where baseball is barely an afterthought, step out of the wheat fields of a kibbutz to the highest level of baseball in the world?” (JTA)   Mazel tov ➤  To Rabbi Seth Farber for receiving the 2022 Award for Service to Klal Yisrael from the Rabbi Samuel S. and A. Irma Cohon Memorial Foundation. Farber is the founder of ITIM, an organization that helps Israelis navigate the country’s rabbinic bureaucracy. Shiva call ➤  Willie Sims, an Israeli basketball legend who experienced both antisemitism and racism as a Black Jew growing up in Alabama, died at 64. SHABBAT READING In this weekend’s edition of our print magazine: Read our latest scoop in the evolving saga of Congressman-elect George Santos and the lies he told about his Jewish background. Plus: Why a Jewish mom was arrested this week when she landed at the airport in Los Angeles, a look at why Google search results briefly showed a controversial definition for Jew and the story of a Holocaust victim who got a funeral 77 years after Dachau’s liberation. And: As the holiday season ends, and tourists retreat from New York City’s Rockefeller Plaza, we explore why there’s a bust of an antisemite on the premises. Download your copy now ➤ ON THE CALENDAR

On this day in history (1066): Joseph ibn Naghrela, a leader of Iberian Jewry, was killed in what became known as the Grenada Massacre. A Jewish official in the court of King Badis al-Muzaffar, Joseph apparently hid in a coal pit as a mob stormed the royal palace where he was hiding. After the mob crucified Joseph on a cross, they killed as many as 4,000 local Jews.   Last year on this day, our colleagues at the JTA reported that Rabbi Angela Buchdahl was a ‘Jeopardy!’ clue. Happy National Bicarbonate of Soda Day. 🤷

VIDEO OF THE DAY

 

A sexy song for Shabbat: Rokhl Kafrissen made a Yiddish translation of Jimmy Buffet’s 1973 song Why don’t we get drunk, called Kum tsu mir (Come to me), which klezmer musicians Lorin Sklamberg and Sasha Lurje perform in this video, accompanied by fiddler Craig Judelman. In the song, a married couple is just about to begin the Shabbat meal when the wife changes her mind. “Loz oys di hamoytsi, kum tsu mir” (Let’s skip the hamotzi, come to me!).   ––– Thanks to Nora Berman, Matthew Litman, Lauren Markoe, Rukhl Schaechter and Talya Zax for contributing to today’s newsletter. You can reach the “Forwarding” team at editorial@forward.com.

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ROME (Reuters) – An Italian theatre on Friday called off a show by a prominent Russian dancer who has three tattoos of President Vladimir Putin on his chest and shoulders, reacting to online protests over the artist’s scheduled appearance.

Sergei Polunin’s Jan. 28-29 show at Milan’s Arcimboldi theatre was cancelled “due to the pressing campaign (against it) on the internet and social media”, the theatre said on its website.

Polunin was due to star in the “Rasputin – Dance Drama” ballet, originally scheduled for 2019 and repeatedly postponed due to the COVID-19 pandemic.

The theatre said the cancellation was an act of “political and moral responsibility”, given “a climate of tensions and threats”. A spokeswoman said the theatre had been subjected to an email campaign as well as many negative messages online.

The Arcimboldi, which said it had taken the decision in agreement with the artist’s company, said it was firmly against the war in Ukraine, noting it had staged shows by the Russian dissidents’ group Pussy Riot and Ukrainian artists.

Polunin, one of the biggest names in the dance world and a former principal at the Royal Ballet in London, was born in Ukraine, but acquired Russian citizenship in 2018. There was no immediate reply to a request for comment via his website.

In September, while on tour in Uzbekistan, he performed a dance in military uniform for fallen Russian soldiers, earning a reprimand from Uzbek authorities, who said he had deviated from an agreed programme.

Performances by Russian artists and Russian artworks have become controversial in the West, in the wake of Moscow’s military campaign against Ukraine, which started on Feb. 24.

In Milan, the La Scala opera house sidelined Russian conductor Valery Gergiev after he failed to condemn the invasion, but stood by its decision to open its 2022-2023 season with the Russian work “Boris Godunov”.

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On Jan. 6, 2021, Amanda Tyler watched the attack on the U.S. Capitol unfold with a growing sense of dread—and recognition.

Like many Christian leaders, Tyler, the executive director of the Baptist Joint Committee for Religious Liberty, immediately noticed the presence of religious symbols in the crowd. Large crosses were everywhere, carried by protestors marching to the Capitol and depicted on flags, clothing, and necklaces. Demonstrators held up Bibles and banners reading, “In God We Trust,” “An Appeal to Heaven,” and “Jesus is my savior, Trump is my President.”

Many of the people there that day cast the attack on the Capitol to stop the certification of the 2020 election as a biblical battle of good versus evil. Christian nationalism, a resurgent ideology that views the U.S. as a Christian country and whose proponents largely define American identity as exclusively white and Christian “helped fuel the attack on the U.S. Capitol on Jan. 6, uniting disparate actors and infusing their political cause with religious fervor,” Tyler testified on Dec. 13 at a House Oversight subcommittee hearing.

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The hearing was the first time in recent memory that someone had been asked to testify publicly on Capitol Hill about the threat posed by Christian nationalism, indicating the growing alarm about an ideology that has become more pervasive and more mainstream since Jan. 6. Its influence was evident in several violent events since, including in the manifesto of the 18-year-old who murdered 10 Black shoppers in a supermarket in Buffalo, New York earlier this year.

“I’m really grateful that members of Congress are paying attention to how Christian nationalism overlaps with and provides cover for white supremacy, and how some of these extremists are being fueled by Christian nationalism, using it to try to justify their violence as being done in God’s name,” Tyler told TIME in a Dec. 15 interview.

Ashley Gilbertson—VII/ReduxProtesters storm the Rotunda, inside the Capitol in Washington, after listening to a speech by President Trump on Jan. 6, 2021.

Tyler, who says she sees Christian nationalism as a perversion of her faith, launched a grassroots effort called Christians Against Christian Nationalism in 2019 under the Baptist Joint Committee for Religious Liberty, a national advocacy group she runs focused on religious freedom. She says she was inspired to start the campaign after a series of alarming events during the Trump era: she watched marchers at the 2017 white supremacist rally in Charlottesville, Va. shout “Jews will not replace us,” and then saw the ideology amplified by conservative television pundits and some lawmakers who echoed the language of religious war and professed the need to “take back” the country from those who threaten a white Christian nation. Christian nationalism also influenced the deadly violence at the Mother Emanuel AME Church in Charleston, South Carolina in 2015; the Tree of Life Synagogue in Pittsburgh, Pennsylvania in 2018; and Chabad of Poway near San Diego, California in 2019, Tyler told lawmakers.

Tyler is aiming to bring together Christians from every congressional district in the country to help educate their communities to spot the ideology, which they see as a horrifying distortion of their beliefs, and give their communities the language to denounce and dismantle it. “We started it mostly in response to the increasingly violent iterations of Christian nationalism that we were seeing at houses of worship,” says Tyler, adding that Christians have a special responsibility to take action. But with the online conspiracies that motivated the racist Buffalo supermarket shooting, growing parallels in some corners of American political speech, and the deadly Capitol riot on Jan. 6, the problem has become more widespread: “We also felt the need to bring awareness to this larger ideology and how it was being promoted in maybe less violent ways,” she says, “so that everyone could understand how perpetuating these myths was contributing to violence.”

Carolyn Kaster—APA woman prays as she faces a U.S. flag on the perimeter fence at the ReAwaken America Tour at Cornerstone Church in Batavia, N.Y., on Aug. 13, 2022.

‘A high-tide moment for Christian nationalism’

The notion of restoring the country to greatness as a Christian nation has a long history in America. “Christian nationalism often overlaps with and provides cover for white supremacy and racial subjugation,” Tyler told lawmakers on Dec. 13. “It creates and perpetuates a sense of cultural belonging that is limited to certain people associated with the founding of the United States, namely native-born white Christians.”

While the ideology has deep roots in the country, the rhetoric fusing American and Christian identities has become increasingly popular in young far-right nationalist groups, which declare that “real” Americans are white Christians and hold a particular set of right-wing political beliefs. In recent years, this version of Christian nationalism has incorporated the language of the “Great Replacement Theory,” which claims that there is a vast conspiracy to replace white Americans of European heritage with non-white people.

Christian nationalism has gained steam among young right-wing personalities who have grown large followings. At a conference in March 2021, Nick Fuentes, 24-year-old white nationalist commentator, told an audience that America will cease to be America “if it loses its white demographic core and if it loses its faith in Jesus Christ,” emphasizing its role as a “Christian country.” Last month, he had dinner with former President Donald Trump at Mar-A-Lago, further raising his national profile.

Read More: Germany’s QAnon-Inspired Plot Shows How Coup Conspiracies Are Going Global

Some of this language has recently been embraced by prominent politicians, adding urgency to Tyler’s sense that Christian nationalism is embedding itself into more Americans’ political identity. “I say it proudly, we should be Christian nationalists,” Rep. Marjorie Taylor Greene, a Republican from Georgia, declared this summer. Greene, who had previously come under fire for sharing a video in 2018 alleging that “Zionist supremacists” were conspiring to wipe out white people, doubled down by selling “Christian Nationalist” t-shirts. While politicians—particularly Republicans—have long made biblical references in stump speeches, Florida Gov. Ron DeSantis has been criticized for using language that seems to echo Christian nationalist ideas. He used a Bible verse to suggest conservatives should “put on the full armor of God” in November, casting the midterm elections as a fight of God against the devil: “Stand firm against the left’s schemes,” he said. “You will face flaming arrows, but if you have the shield of faith, you will overcome them, and in Florida we walk the line here.”

Leaders who are flirting with the language of Christian nationalism “have merged their political authority with religious authority, and are using this language of Christian nationalism to justify political stances they’re taking,” says Tyler, calling this “a high-tide moment for Christian nationalism in our time.”

Mark Peterson—ReduxSignage and merchandise for sale is seen at the ReAwaken America Tour event, held in Manheim, Pa. on Oct. 22, 2022. ReAwaken America, founded by Clay Clark, and whose events often feature Michael Flynn, is a right-wing political movement connected to Christian nationalism.

Christian nationalist violence

January 6 cast a bright national spotlight on Christian nationalism, as the movement’s rhetoric and imagery featured prominently in the crowd of people participating in the worst attack on the U.S. Capitol on two centuries.

News photos from that day showed people draped in Trump flags worshipping next to large wooden crosses; one cross with the words “Jesus Saves” written on it was paraded to the Capitol as the building’s defenses were breached. “It was clear the terrorists perceived themselves to be Christians,” D.C. Metropolitan Police Officer Daniel Hodges testified to a House Select Committee last year.

This level of religious fervor in service of a political—and ultimately violent—cause was shocking to many Americans, though experts argue it shouldn’t have been. “The riot was a pitch perfect performance of the kind of white Christian nationalism that has ebbed and flowed throughout American history,” Ruth Braunstein, a sociologist at the University of Connecticut who studies the movement, wrote in February 2021.

That same rhetoric has also led to deadly violence in other incidents over the past few years. The shooter who murdered 10 Black people in a grocery store in Buffalo, New York in May this year cited the broader language of Christian nationalism as justification for his actions. While he said he didn’t consider himself a Christian, he said he lived by “Christian values” and echoed the language of prominent white Christian nationalists espousing the “Great Replacement Theory.” He denounced people as “anti-Christian,” expressed concern for “Christian Europeans” being ethnically displaced by “traitors,” and defined “white culture” he said he was fighting to preserve as “based on Christianity.”

Tyler says she has been “overwhelmed” by the response to her recent congressional testimony, and believes there’s a growing group of American Christians who want to join her cause. “Someone responded saying, ‘This should be shown in every church this Sunday.’ And this is exactly how I feel as a Christian,” she says of her testimony being widely shared on social media. “So I think that there is a large segment of this population who are Christian who are horrified by the use of Christian nationalism to galvanize and justify violence.”

In the coming year, Tyler is hoping to use the focus on the issue to grow the grassroots national network to help other Christian organizations learn to notice the signs of Christian nationalism “in order not to be complicit with its spread,” and learn to address it. “To dismantle an ideology that’s so deeply seated will be a generational project,” she says. “But it’s one that’s urgent for our democracy and for the safety of the country.”

I’ve made a tradition out of avoiding New Year’s Eve celebrations. It’s not the parties I particularly mind, but the sense of impending doom that comes with it: The notion that this is the final fling before the repentance begins.

I’ve often heard people wondering why New Year’s gatherings are so disappointing, and herein lies the answer: New Year’s Resolutions. There’s nothing much worse than spending an evening with a group of people who are about to start a diet, a punitive exercise regime, a detox or a fast. In a moment that calls for sparkling conversation, we obsess over our perceived flaws.

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Standing on the cusp of one of the great symbolic moments of the year—a moment of rebirth, of returning light and burgeoning life—we waste it in atonement. Ashamed, we make a subtraction from the ledger of our lives and go on to spend January (already one of the dreariest months of the year) trying to convince ourselves that we’re better off without all of life’s little pleasures.

Read More: Mindfulness Worked as Well as an Anxiety Drug in a New Study

But what if we made an addition to our lives, rather than a subtraction? What if we used New Year to invite in some expansive pleasures, rather than to impose stringencies?

I’ve been wondering, lately, how life could be more magical again—more full of that sense of fascination and connection that I felt as a child. It seems to me that this is what we need in these divisive times: some ways to mine for wonder, however hard things get. If we can learn again to, as the poet William Blake once wrote in the “Augueries of Innocence,” “see the world in a grain of sand,” then we might just be able to unpack the survival kit for this unsteady century.

There lies yet another thing that we gave up, probably one distant New Year, through a misplaced sense of penitence: All that noticing we used to do, which seemed like such a waste of time; all that naive excitement at the mundane.

There came a point in my life when those softer feelings began to look naive, and I rushed towards the adult cynicism that proved I understood the ways of the world. I wanted to understand the world as a series of hard facts, and to only concern myself with things that I could control and plan. It took a couple of decades for me to realise what a cold place I’d created for myself. My very grown-up worldview only allowed me only to skim over the hard surfaces of life, and never to comfort myself in its intricate depths, its profundities. By the time I realised what a loss this was, I had forgotten the route back to find it.

But this sense of enchantment was still there, waiting patiently to be remembered. It was stored in my muscle memory and written between the lines of the stories I knew, the facts I relied on. Any one of us could find it. We only need to resolve to be fascinated again by the intrinsically fascinating, to be awed by the undeniable grandeur of the observable universe.

Take, for example, the sky. Over the coming year (just like every other year), there will be a dozen meteor showers happening above our heads. Most people won’t see them, for the simple reason that they are regular as clockwork, and so there’s never a compelling excuse to stay up late to witness them. And yet, it is impossible not to gasp at the sight of a shooting star streaking across the sky.

But maybe even that is too rare. Every month, the moon is transformed by the earth’s shadow, starting with the thinnest crescent, and then growing rounder until she fades again. Step outside to drink in the light of the full moon, and you will be dazzled by its brilliance. It is so pale compared to electric light, but bright enough to cast a shadow in true darkness. It only takes a few moments of deliberate attention to feel part of this eternal, companionable cycle.

The moon marks time in a way that is forever escaping the clock and the calendar, and there, we find another beautiful place to rest our attention. When we start to observe the division points of the year—the solstices and equinoxes, the seasonal thresholds—we invite in the stories that come with them, from the meanings we connect to the different seasons, to half-forgotten saints’ days and dates that are personal to us, the births, deaths and marriages that we can’t forget. There is magic hidden in all of them, a sense of connection that runs across the ages and which is renewed by our own learning and retelling.

In Japan, seventy-two micro seasons are observed across the year, each one marking a small shift in the natural world; a plant coming into blossom or the migration of a bird. Every of us has our own deck of seasons like this, some that are specific to ourselves, and some that we share with our neighbors or far-flung friends. In my street, there is a distinct moment in the year when the privet hedges flower and drift their peppery scent along the pavements. That is now a season I look forward to, just as I anticipate the day that my neighbor’s ash tree dumps its leaves in my garden, a foot deep. I used to find it a nuisance, but now I rush out with my rake, ready to mulch my soil with its abundance. It’s by far my favorite garden task of the year.

All of those things are subtle, freely available, and the work of seconds to notice, but they light up a shadowy corner of my brain that rejoices in the ineffable. There are many more of them, biding their time until we reacquaint ourselves with small wonder. They gently add to our lives, rather than snatching something away. We would do well to remember them at this time of year. We have gathered, we have given, and yes, we have eaten and probably drank until we need no more.

But that is the nature of a feast. We have nothing for which to atone. Let’s open the new year sated, rather than sorry.

BUCHAREST (Reuters) -Romanian prosecutors asked a Bucharest court on Friday to extend the detention of Andrew Tate by 30 days, after the divisive internet personality was arrested on suspicion of human trafficking, rape and forming an organised crime group.

Tate, a former professional kickboxer, and his brother Tristan were detained on Thursday for an initial for 24 hours alongside two Romanian suspects, prosecutors from the anti organised-crime unit said in a statement after raiding their properties in Bucharest.

“Anti-organised crime prosecutors have notified the rights and liberties judge with the Bucharest Court with a proposal to remand the four suspects for 30 days,” the prosecutors said on Friday.

The brothers declined to comment on Thursday but their lawyer confirmed they had been detained.

Prosecutors said the Tate brothers had been under criminal investigation since April.

“The four suspects … appear to have created an organised crime group with the purpose of recruiting, housing and exploiting women by forcing them to create pornographic content meant to be seen on specialised websites for a cost,” prosecutors said in a statement late on Thursday.

“They would have gained important sums of money.”

Prosecutors said they had found six women who had been sexually exploited by the suspects.

Tate gained notoriety for misogynistic comments and hate speech. He has said women are partially responsible for being raped and that they belong to men.

A number of social media platforms banned Tate, including Twitter, but his account there became active again in November, after the platform was taken over by Elon Musk. In one of his tweets following his return to the platform he said he was flying to California to tell Musk he was “a legend”.

Tate appeared to have sent a tweet on Friday, suggesting he had access to his phone and social media while in custody.

Earlier this week, the British national was told to get a life by climate activist Greta Thunberg on Twitter after he told her he owned 33 cars with “enormous emissions.”

Tate, a former contestant on the UK reality show Big Brother, operates the ‘Hustler’s University’, which claims to have over 160,000 users who pay a subscription to learn about topics such as cryptocurrencies, investing and business.

U.S. stock index futures edged down on the final trading day of a roller-coaster year marked by aggressive monetary policy tightening by the Federal Reserve, the Russia-Ukraine war and fears of an impending recession.

Wall Street’s main indexes are set for their first annual drop after three straight years of gains, dragged lower by the Fed’s fastest pace of interest rate hikes since the 1980s as it sought to stamp out decades-high inflation.

With investors flocking to safer assets such as the U.S. dollar and avoiding riskier bets, the benchmark S&P 500 (.SPX) and tech-heavy Nasdaq (.IXIC) have slumped 19% and 33%, respectively, this year.

Both indexes are on course for their biggest yearly decline since the 2008 financial crisis.

Focus has now shifted to 2023 and the outlook for corporate earnings as investors grow increasingly concerned about the likelihood of an economic downturn from sharp rate hikes.

“The most important take of the year is: the era of easy money ended, and ended for good. It means that the financial markets won’t look like anything we knew since the subprime crisis,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

“Given that there is still plenty of cheap central bank liquidity waiting to be pulled back, the situation may not get better before it gets worse in the first quarters of next year. Recession, inflation, stagflation will likely dominate headlines next year.”

Wall Street’s main indexes closed higher on Thursday after unemployment data signaled the Fed’s policy tightening was starting to take a toll on the U.S. labor market.

Still, signs of resilience in the American economy have fueled concerns that interest rates could stay higher for longer though easing inflationary pressures have kept alive hopes that the Fed could dial down the size of its rate hikes.

Most rate-sensitive technology and growth stocks such as Apple Inc (AAPL.O), Amazon.com Inc (AMZN.O), Alphabet Inc (GOOGL.O) and Meta Platforms Inc (META.O) fell between 0.4% and 0.6% in premarket trade on Friday, as U.S. Treasury yields rose.

Money market participants see 69% odds of a 25-basis-point hike in the Fed’s upcoming February meeting, with rates expected to peak at 4.96% by the middle of next year. FEDWATCH

At 6:23 a.m. ET, Dow e-minis were down 98 points, or 0.29%, S&P 500 e-minis were down 13 points, or 0.34%, and Nasdaq 100 e-minis were down 42.75 points, or 0.39%.

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