Market Drama

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

November 13, 2023 

Watch Time: 3 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P 500 was up close to 6%, 15% for the year. 
    • Nasdaq was up 2.5% for the week.
  • Oil fell 4% for the week, it is now down for the year.
    • Good news considering gasoline prices are affected by oil. 
  • Economy seems to be cooling off while not at a recession, which might bring inflation down. 
  • Interesting research by the Fed when it comes to household balance sheets (what is owned and owed).
    • In the last three years, American households have gotten richer. 
    • Prices went up.
    • Households were also able to reduce their debt by refinancing their mortgage rates.
      • 14 million households refinanced their mortgage reducing household debt by around $30 billion annually through 2021.
    •  Helps explain why the consumer has been resilient to a hike in interest rates.
  • Unemployment is still below 4%.

Looking forward to next week:

  • Core CPI data.
  • Core PPI.
  • Retail sales to see how the consumer is growing up. 

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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