Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
Stock Market Updates
- S&P 500: Down 0.6% for the week.
- Nasdaq: Up 0.3% for the week.
- Technology sector:
- Tesla reported earnings above expectations. It accounts for 2.2% of the S&P 500, and 5% of Nasdaq,
- Google performed really well. It accounts for 4% of the S&P 500, and 5.5% of Nasdaq.
Economic Updates:
- CPI Core data (excludes food & energy): rose by 0.3% as expected, leading the annualized rate at 3.3% for the third consecutive month.
- Housing cost: had its smallest monthly increase in a couple years, rising 0.2%. This helped the annualized rate fall below 5%.
Next Week:
- Fed meeting, expecting a 25 basis points cut announcement.
Stay tuned for next week.
– Andres
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