Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
Stock Market Update:
- S&P 500: Up 1.9% for the week; now up 0.5% YTD and 18% above April lows.
- Nasdaq: Up 2% for the week; still down 1% YTD.
- Early-week rally: Driven by the delay of proposed 50% EU tariffs.
- Nvidia earnings: Beat expectations. Stock ended the week up 3%.
- Thursday boost: U.S. Court ruled Trump lacked authority for many tariffs.
- Late-week pullback: Federal court temporarily halted that ruling following the administration’s appeal.
Economic Update:
- April PCE Inflation: up 2.5% YoY, down from 2.7% in March.
- Lowest annual reading since 2021.
- Suggests tariffs have not yet pushed inflation higher, easing market concerns.
Next Week:
- Non-Farm payrolls (May).
- ISM PMI data.
Stay tuned for next week.
– Andres
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