Market Drama

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

May 20, 2024 

Watch Time: 1.5 minutes

  • Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 and Nasdaq climbed to record highs this week,
    • S&P 500 was up 1.5% for the week, up 11.2% for the year.
    • Nasdaq was up 2.1% for the week, up 11.2% for the year.
  • CPI numbers were the main driver for the increase: core CPI fell to 3.6%, which is the lowest rating in three years. While this result was around where expectations were, it was the first data point in the last couple of months that shows inflation’s deceleration.
  • These results reassure the market that we might be on track for the Fed to lower interest rates in the second half of the year (maybe around September). 

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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