Market Drama

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

April 24, 2023 
Watch Time: 3 minutes

Welcome to this week’s Market Drama!

  • The S&P 500 was down 0.1%
  • The two-year treasury yield was essentially flat for the week. 
  • Economic Data:
    • The Philadelphia Fed manufacturing index came out in the week and showed a greater contraction than expected – the market did not like that. 
    • S&P Global Flash Services Index came in at 53.7 – better than the expected 52. 
    • Manufacturing index registered a 50.4. 
  • New York Fed president John Williams said inflation is still too high and monetary tools will be used to restore price stability.

What to look out for this week: 

  • Key data point is core PCE index for March. 

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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