Market Drama

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

February 20, 2023 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

  • Stock Market:
    • The S&P 500 fell 0.28%.
    • Dow Jones was also down.
    • Nasdaq was up for the week. 
    • Government bond yields rose for the fourth consecutive week. 
  • What drove this market action?
    • (1) January’s Producer Price Index came out hotter than expected. It rose 0.7%, while estimates were 0.4%.
    • (2) Two Fed officials made statements that hinted at what would happen with interest rates. 

What to look out for next week: 

  • Core PCE index data for January. 
  • We are closing up earnings season. 
  • More of macro data and implications for what the Fed will do regarding interest rates. 

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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