Market Drama

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

June 5, 2023 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P 500 was up 1.8% for the week.
      • May was fairly flat at 0.4%, but year-to-date at 11.5%.
    • Nasdaq was up 2% for the week and is now up more than 26% year-to-date.
  • Economic Data:
    • Last week we saw the debt ceiling resolution in Washington, great news.
    • May’s payrolls number came in better than expected. 
    • Positive revisions for March and April. 
    • On the more negative headline, the unemployment rate rose to 3.7% from 3.4%.
    • Wages data also came out – 4.3% year-over-year growth (slower pace than the previous month at 4.5%).

What to look out for this week: 

  • PMI data.
  • Consumer credit data.

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.

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