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