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High flying stocks get hit in 2022, but local banks hold strong

Por: The Advocate Business January 12, 2023

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The publicly traded Louisiana companies that make up the Pelican State Portfolio were dragged down in 2022 by rising interest rates and persistently high inflation.The 20 businesses in the index were down 12.07% for the year and 1.65% for the fourth quarter of 2022. In comparison, the Dow Jones Industrial Average, an index of 30 top businesses, was down 8.93% for the year, but up 14.87% for the final quarter. The S&P 500, which tracks 500 large... + full article



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