Market Drama
September 18, 2023
Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
August 22, 2023
Watch Time: 3 minutes
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 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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