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