Market Drama

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

February 12, 2024 
Watch Time: 3 minutes

Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 was up 1.4% for the week.
    • Up 5.4% for the year.
    • Crossed index level of 5000. 
  • We have come a very long way – The S&P 500 is now up 40.5% from its October 12, 2022 low.
  • What is driving the markets?
    • Economy did not see a recession despite various interest rate hikes.
    • Inflation is coming down, giving indication that the Federal Reserve might start lowering interest rates.
    • Earnings are the long term driver of stocks. This earnings season:
      • 67% of companies have already reported for the S&P 500 and 75% of these companies have beat their earnings per share estimates. 
      • Second consecutive quarter that if this trend continues, we’ve seen positive earnings growth. 

Coming up next week:

  • January CPI numbers.
  • Retail sales.   

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. 

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