Market Drama

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

May 27, 2024 

Watch Time: 1.5 minutes

  • Welcome to this week’s Market Drama!

Stock Market Updates:

  • Dow Jones was down 2.3% for the week. 
  • S&P 500 was flat. 
  • Nasdaq was up 1.5%
  • A major driver in the divergence of performance was Nvidia. The stock was up 9%, and they reported better-than-expected earnings on Thursday. Dow Jones does not hold Nvidia; S&P 500 and Nasdaq do. 
  • 96% of companies have reported earnings, and 78% have exceeded earning expectations, slightly above their long-term average of 77%.
    • Earnings growth for the quarter is now forecast to be at 6%, above the expected 3.5% at the beginning of the quarter. 

Coming up next week:

  • PCE Inflation
  • Consumer Confidence
  • Core index for PCE is supposed to slow down to 0.26 MoM from the prior month of 0.3.

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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