Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Watch Time: 2.5 min.
Welcome to this week’s Market Drama!
Stock Market Update:
- S&P 500: Down 1.7% for the week, up 2.2% for the year.
- Nasdaq: Down 2.5% for the week, up 1.1% for the year.
- Market Performance: Reached near all-time highs on Tuesday and Wednesday; sell-off began on Thursday.
- Walmart Earnings: Reported lower-than-expected sales guidance, indicating potential weakness in U.S. consumer spending.
- Retail Sales Report: Previous week’s data showed signs of weakness.
- Russian-Ukraine War: Optimism around a potential resolution has disproportionately benefited European equities.
- Sector Performance: Energy, healthcare, and communication services are outperforming; technology and consumer discretionary sectors are underperforming.
Next Week:
- PCE Inflation Data
Stay tuned for next week.
– Andres
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