Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Watch Time: 2.4 minutes
- Welcome to this week’s Market Drama!
Stock Market Updates:
- S&P 500 was up 0.9% for the week. Up 17.7% for the year.
- Nasdaq was up 0.2% for the week. Up 22.6% for the year.
- Tech stocks did not drive the markets this week.
Economic Updates:
- CPI index did better than expected.
- Thursday: Core CPI (excludes food & energy) hit 3.3% annualized CPI.
- CPI number gives the Fed some credibility that they can lower interest rates later this year.
- Friday: PPI data (wholesale pricing) was hotter than expected. We saw 0.2% growth MoM vs. expected 0.1%.
- Thursday: Core CPI (excludes food & energy) hit 3.3% annualized CPI.
- Commentary from Fed chairman giving credence that at some point interest rates will lower if economy and inflation continues to cool off.
- Beginning of the unofficial earnings season: Big banks such as JP Morgan reported on Friday.
Coming Up Next Week:
- U.S. Retail Sales data.
Stay tuned for next week.
– Andre.
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.