Market Drama

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

December 19, 2022 

Watch Time: 5 minutes

Welcome to this week’s Market Drama.

  • The S&P 500 fell 2%. That puts it down 17.8% for the year.
  • 10-year treasury yield fell 17 basis points, which means treasury bonds’ prices went up. 
  • We had November CPI numbers out and they were better than expected.
    • For example, core CPI was up year-over-year by 6%. It was expected to be up 6.1%.
  • On Wednesday, the Fed announced that they’re hiking 50 basis points to 4.5%. 
  • Retail sales declined 0.6% from November month-over-month. This is important since consumption is 68% of GDP. The fact that retail sales are down is an indication that the most important driver of growth is not looking so hot going into next year.
  • Manufacturing PMI also declined to 46.2 from 47.7 in November. When it is below 50, it means contraction.

What to look forward to this week? 

  • On Tuesday, we have November housing starts and new and existing home sales out
    • Real estate and housing are really important indicators for the overall economy.
  • On Friday, the Personal Consumption Expenditure (PCE) Index for November comes out. 

Happy holidays and 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.

Ready to Grow Your Wealth?

Let us connect you with the best financial advisor for you to understand the implications of the markets in your personal financial plan. 

About Zoe Financial

Zoe is a wealth platform that connects you to the right trustworthy, credentialed, and experienced wealth advisor for your needs. We believe financial advice should come from unbiased and certified professionals. That’s why Zoe’s extensive vetting process qualifies only the top 5% of managers in the United States.

Net Worth

Best Online Financial Advisor 2022

Net Worth

Series A Led by Softbank

Net Worth

Most Innovative Companies 2022

Net Worth

2019 Annual Fintech Competition Winner

Featured by:

Net Worth
Net Worth
Net Worth
Net Worth