Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
- The Stock Market:
- The S&P 500 was down and so was Nasdaq.
- S&P 500 was down 2.1% this past week.
- Nasdaq was down 2.6% for the week.
- There is a pullback, the question is: will we have a bear market?
- Small caps are underperforming the broader market.
- Concerns around the U.S economy losing some steam.
- The S&P 500 was down and so was Nasdaq.
- Economic Data:
- July retail sales came in better than expected.
- Unemployment rate remains abnormally low.
- GDP is mostly driven by consumption.
- China had some alarming news that might impact the global economy.
- U.S. earnings could be impacted.
When it comes to next week:
- We have flash services PMI data.
- Chairman Powell will give his introductory speech at Jackson Hole.
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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