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 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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