Market Drama

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

January 22, 2024 
Watch Time: 4 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P 500 was up 1.2% for the week.
    • Nasdaq was up 2.3% for the week.
    • What’s driving the markets?
      • The technology sector. 
      • This week the catalyst was that there were better than expected demand for semiconductors. 
      • Broader technology sector: Microsoft, Alphabet, Amazon, Netflix, are all at fresh 52-week highs.
    • We hit a new all-time high for the S&P 500 on Friday.
      • Prior all-time high was January 3, 2022.
      • Good news: this might create a new headline that can attract new investors. 
      • Not-so-great news: it is still very much a narrow market that’s driving this rally. 
    • Treasury yields went up:
      • Expectations of what the market is forecasting for the probability that the Fed will cut interest rates in March.
        • A week ago market participants thought there was a 77% chance that the Fed will cut interest rates.
        • Now expectations are 50-50. 

Coming up next week:

  • PCE and Inflation data coming out.
    • Expectation for PCE is for it to fall from 3.2% year -over-year to 3.0%.

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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