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 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.

Ready to Grow Your Wealth?

Let us connect you with the best financial advisor for you to understand the implications of the markets in your personal financial plan. 

About Zoe Financial

Zoe is a wealth platform that connects you to the right trustworthy, credentialed, and experienced wealth advisor for your needs. We believe financial advice should come from unbiased and certified professionals. That’s why Zoe’s extensive vetting process qualifies only the top 5% of managers in the United States.

Net Worth

Best Online Financial Advisor 2022

Net Worth

Series A Led by Softbank

Net Worth

Most Innovative Companies 2022

Net Worth

2019 Annual Fintech Competition Winner

Featured by:

Net Worth
Net Worth
Net Worth
Net Worth