Millionaire investors are betting on double-digit declines in stocks next year, reflecting their most bearish outlook since 2008, according to the CNBC Millionaire Survey.  Fifty-six percent of millionaire investors surveyed expect the S&P 500 to decline by 10% in 2023. Nearly a third expect declines of more than 15%. The survey was conducted among investors with $1 million or more in investible assets.  They also expect falling equities to reduce their wealth. When asked about the biggest risk to their personal wealth over the next year, the largest number (28%) said the stock market.  The last time millionaire investors were this gloomy was during the financial crisis and Great Recession more than a decade ago.

Confidence among U.S. single-family home builders fell for a record 12th straight month in December as even a scramble to offer incentives for prospective buyers failed to boost traffic and lift sales in the current high-inflation environment.  The National Association of Home Builders said their NAHB/Wells Fargo Housing Market Index dropped two points to 31 this month. A reading above 50 indicates that more builders view conditions as good rather than poor.

Disney's "Avatar: The Way of Water" delivered director James Cameron his first $100-million opening weekend — but missed industry expectations of $170 million-plus.  The much-anticipated sequel, which runs 3 hours and 12 minutes, secured roughly $134 million in domestic markets — tying with Warner Bros.' "The Batman" as the fifth-highest opener of 2022.