Market Drama

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

January 30, 2023 
Watch Time: 3 minutes

Welcome to this week’s Market Drama!

  • The S&P 500 was up 2.2% last week. Currently it is up 6.4% for the year. 
  • Nasdaq was up 4.7%, which tells you the riskier part of the stock market rallied more. 
  • We had better than expected fourth quarter GDP numbers. 
  • In-line inflation numbers: 
    • Core PCE was up 4.4% year-over-year.
    • Fourth quarter GDP rose 2.9% for the quarter. Better than the expected number of 2.8%.
      • Biggest drivers of the growth were government spending and inventories.
      • Consumption hasn’t collapsed. 

When it comes to this week: 

  • The Fed will announce if they’re hiking interest rates by 25 basis points, 50 basis points, or half a percent, a quarter of a percent on Wednesday. 
  • The market will be watching and looking for signs on what to expect, at the press conference with the Fed.
  • As of now they have forecasted that interest rates will hike up to 5%. 

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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