We have to take the Fed at its word that it will keep hiking until inflation falls, says Kathy Jones. She and Kevin Gordon give an overview of the market as the markets closed lower on the first day of trading in 2023. Kevin notes that private residential home improvement spending rose by 1.3%, and the overall levels' downtrend is starting to reverse. They note some S&P 500 winners included Newmont (NEM), PayPal (PYPL), and Mohawk Industries (MHK), and some losers include Tesla (TSLA), APA Corp. (APA), and EQT Corp. (EQT). Tune in to find out more about the stock market today.