Market Drama

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

August 28, 2023 
Watch Time: 3 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P 500 was up and so was Nasdaq.
      •  S&P 500 was up 0.8% this past week.
      • Nasdaq was up 2.3% for the week. 
      • Dow Jones was down 0.4%.
    • Gross stocks outperformed value shares. 
    • Big story: Nvidia. 
  • Economic Data:
    • The Fed, Powell’s speech:
      •  No big reveals or shift in expectations. 
      • Focus on bringing down inflation.
    • Earnings:
      • Q2 will likely mark the end of earnings downturn. 
    • Macro data:
      • New home sales reached highest lever since July 2022 despite seeing highest mortgage rates in years. 

When it comes to next week:

  • Core PCE data.
  • Inflation data.
  • On Friday: U.S. payroll data, U.S. unemployment data, and U.S. hourly wage data. 

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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