Market Drama

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

April 08, 2024 

Watch Time: 3 minutes

Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 was down 1% for the week. 
  • Dow Jones was down even more, 2.3%.
  • On the upside, Oil was up 4.3%, up YTD 21%.
    • Oil was up over concerns due to intensifying tensions in the Middle East.

Economic Updates:

  • Stock market concerns around comments from the Federal Reserve members dampening expectations of when they will lower interests if inflation doesn’t continue to come down. 
  • Friday payroll number was higher than expected. In March, there were 303,000 new jobs. 
  • Unemployment ticked down to 3.8%.
  • Hourly wage earnings rose 4.1% year over year.
  • Contradictory data point that the economy isn’t doing as well is that the ISM manufacturing number came out for the first time in 18 months in expansion territory. In contrast, the ISM Service Report came in a little bit worse than expected.

Coming up next week:

  • CPI Inflation Data.
  • FOMC minutes from the March meeting.

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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