Market Drama

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

July 10, 2023 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P was down over 1% for the week. 
      • It’s up close to 15% year-to-date. 
  • Economic Data:
    • Payroll’s data could have driven the markets to sell-off.
    • U.S. payroll came in weaker than expected at 209,000 vs. the expected 240,000.
    • The unemployment rate dropped from 3.7 to 3.6, showing a lot of tightness in the job market. 
    • Wages came in at 4.4% year-over-year growth, higher than expected. 

What to look out for this week: 

  • A lot of inflation data coming up:
    • Consumer Price Index – CPI (Core CPI is expected to come at 5% after being 5.3% last month).
    • Producer Price Index – PPI.

Stay tuned for next week. Have a good one.

– 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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