Market Drama

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

March 25, 2024 
Watch Time: 3.5 minutes

Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 was up 2.3% for the week. 
  • Nasdaq was up 2.9%. 
    • Both are above 9% year-to-date.
    • Sector representation is broadening. Industrials and energy performed well alongside the usual suspects like technology.

Economic Updates:

  • FOMC Meeting:
    • Interest rates did not change, but the market was looking for future signals on future interest rate cuts. 
      • Key message was the economy is moving along just fine. They are not concerned and via dot plot they are forecasting they’re looking to cut interest rates three times this year.
      • Outlook for real GDP growth was upgraded from 1.4 to 2.1. 
  • The Federal Reserve might not need to cut interest rates this year for the market to go up higher. If the Fed doesn’t cut interest rates it is because the economy continues to do really well. Even if inflation stays within 3 or 4%, it is not enough to derail the markets because earnings have delivered so far.  
  • Earnings is what markets care most about. 

Coming up next week:

  • PC Inflation Data.

Stay tuned for next week.

– Andres

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. 

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