Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Watch Time: 3 min.
Welcome to this week’s Market Drama!
Stock Market Update:
- S&P 500: Down 0.4% for the week; up 1.6% YTD.
- Nasdaq: Down 0.6% for the week; flat YTD.
- Oil: Surged 14% this week; now up 2.6% YTD.
- Main Driver:
- Most of the weekly losses came Friday due to geopolitical tensions between Iran and Israel, escalating into direct conflict.
- Oil spiked over 7% on Friday alone, hitting a 4-month high following Israeli strikes and retaliation.
Economic Update:
- Inflation (March):
- CPI: ~2.4%, lower than expected.
- PPI: 2.6%, also better than expected.
- Both are down significantly from 2022 peaks: CPI at 9%, PPI over 18%.
- Outlook:
- Despite encouraging inflation data, oil’s sharp rise adds new inflation risk to watch.
- The Fed is likely to adopt a wait-and-see stance as conflict-driven volatility unfolds.
Next Week:
- Retail Sales data.
- Fed meeting (Wednesday).
Stay tuned for next week.
– Andres
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