Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
- Welcome to this week’s Market Drama!
Stock Market Updates:
- S&P 500 was up 1.6% for the week. Up 13.9% for the year.
- Nasdaq is up even more, 3.2% for the week. Up 17.8% for the year.
- Inflation came out better than expected, which tends to favor growth stocks (Nvidia, Google, etc.) vs. value stocks. As well as the fact that Nasdaq is much heavier than the S&P on the technology stocks.
- Overall CPI inflation came in at 3.3%, expectations were 3.4%.
- Core CPI (excludes food & energy) was 3.4% , expectations were 3.5%.
- FOMC met. They left interest rates with no changes, as expected.
- Dot Plot (where each governor says where they expect interest rates/growth/inflation to be): March Dot Plot, specifically for interest rates, pointed out three cuts in 2024. But last week’s updated version only had one cut for this year.
- The market will not suffer if the Fed doesn’t cut interest rates because the economy is doing well, and inflation is taking longer.
Coming Up Next Week:
- Retail Sales data.
- Housing Starts.
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.
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