Market Drama

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

May 15, 2023 

Watch Time: 4 minutes

Welcome to this week’s Market Drama!

  • The S&P 500 was down 0.2% (essentially didn’t move). 
    • Low volatility. 
  • Economic Data:
    • Core CPI came in as expected at 5.5% year-over-year growth for April. 
    • Core PPI, came in as expected at 2.3%. 
  • A couple numbers on the negative side: 
    • The University of Michigan, Consumer Sentiment Index tame in at a worse than expected 57.7 (forecast of 63). 
    • Consumers are not feeling very confident about the next six months.
  • Interest Rates:
    • Federal Governor Michelle Bowman spoke on Friday as she said that inflation recent numbers do not signal a downward path yet.
    • The Federal Reserve is in restrictive territory (trying to slow down the economy). 

What to look out for this week: 

  • Negotiations on U.S. debt ceiling have been postponed till next week. 
  • April retails sales and expected earnings from a couple “proxies” for the economy. 

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. Zoe Financial does not provide legal advice.

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