Market Drama

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

January 23, 2023 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

  • The S&P 500 fell 0.65% last week due to weaker-than-expected December retail sales and industrial production numbers.
  • The fall for stocks could’ve been worse if it wasn’t for the consumer service sector, which rallied because of Netflix and Google.
      • Netflix rallied over 6% with better-than-expected earnings due to subscription numbers.
      • Google rallied after they made announcements on layoffs.

When it comes to this week: 

  • Proper beginning of Earnings Season. Tesla, AT&T, Verizon, Boeing, IBM, Visa, and Mastercard, among many others, are reporting on earnings. 
  • The January Global Composite Purchasing Managers Index (PMIs) comes out on Tuesday. We’ll see how economic activity’s looking for the month of January so far. 
  • December’s Personal Consumption Expenditure (PCE) price index comes out on Friday. 

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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