Market Drama

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

February 19, 2024 
Watch Time: 3 minutes

Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 was down 0.4% for the week
  • Nasdaq was down 1.3%.
  • Oil was the outlier, up 1.8%.
  • What drove market action?
    • Inflation data that came out for January.
      • CPI (consumer side)
        • Headline CPI came in at 3.1 – expectation was 2.9.
        • Core CPI came in at 3.9 – expectation was 3.7.
      • PPI

Economic Updates:

  • Inflation came in stickier than expected. 
    • CPI number repriced the market’s expectations of how many times the Federal Reserve will cut this year. 
      • Before this week, market was pricing in five cuts starting in May. Now, it is now pricing three cuts potentially starting in June.
    • There might be a new normal for inflation (new neutral range).

Coming up next week:

  • January FOMC minutes. 

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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