Market Drama

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

April 15, 2024 

Watch Time: 3.3 minutes

Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 was sold off 1.6% for the week. Up 7.4% YoD.
  • Nasdaq sold off a little bit less, down 0.5%. Up 7.8% YoD.
  • Reasons for why the market sold are:
    • Geopolitical tensions in the Middle East with the Iranian strike on Israel, sent volatility to the markets.
    • Hotter inflation numbers with the highest economic data point coming from the US CPI data. Consumer prices went up 3.5% YoY in March, to 3.2% the prior year (incorporating food & energy).

Economic Updates:

  • Core CPI was flat at 3.8%, slightly above expectations.
  • The probability of the Federal Reserve cutting rates is now 21%. The market is realizing the Fed might not cut in June.
  • CPI remains resistant to decreasing from its current levels because the economy is doing well. Especially in the services aspect of our economy, the employment rate remains way below historical averages and the mean wage pressures.
  • We need to keep an eye on the economy and our earnings for companies that continue to perform fairly well.

Coming up next week:

  • Retail Sales 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. 

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