Market Drama

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

February 5, 2024 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 was up 1.4% for the week.
    • There was a lot of volatility within the week. 
    • What caught the market by surprise: The Fed gave us insight on lowering interest rates coming later in the year.

Economic Updates: 

  • Got jobs data for January and we saw 353,000 new payrolls for the month – double the consensus estimate.
  • Unemployment rate stayed at 3.7%.
  • Wage growth increased at 4.5% year-over-year. 
    • The highest since last September.
  • The Fed will be on pause until they see inflation coming down for all indicators. 

Coming up next week:

  • Update on how we are doing with earnings season.
  • ISM services and PMI readings.

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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