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 page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.

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