Market Drama

Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA

June 5, 2023 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P 500 was up 1.8% for the week.
      • May was fairly flat at 0.4%, but year-to-date at 11.5%.
    • Nasdaq was up 2% for the week and is now up more than 26% year-to-date.
  • Economic Data:
    • Last week we saw the debt ceiling resolution in Washington, great news.
    • May’s payrolls number came in better than expected. 
    • Positive revisions for March and April. 
    • On the more negative headline, the unemployment rate rose to 3.7% from 3.4%.
    • Wages data also came out – 4.3% year-over-year growth (slower pace than the previous month at 4.5%).

What to look out for this week: 

  • PMI data.
  • Consumer credit data.

Stay tuned for next week. 

– Andres

Disclosure: This material provided by Zoe Financial is for informational purposes only. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Nothing in these materials is intended to serve as personalized tax and/or investment advice since the availability and effectiveness of any strategy is dependent upon your individual facts and circumstances. Zoe Financial is not an accounting firm – clients and prospective clients should consult with their tax professional regarding their specific tax situation. Opinions expressed by Zoe Financial are based on economic or market conditions at the time this material was written. Economies and markets fluctuate. Actual economic or market events may turn out differently than anticipated. Facts presented have been obtained from sources believed to be reliable. Zoe Financial, however, cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source. Zoe Financial does not provide legal advice.

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