Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
Stock Market Updates:
- The S&P 500 was up 0.2% for the week, up 20.6% for the year.
- Nasdaq was flat.
- Although not apparent, the market was fairly volatile within the week:
- Oil was up 9% for the week due to geopolitical tensions in the Middle East.
Economic Updates:
- U.S. Non-farm Payroll for September was better than expected at 254k jobs vs. 150k expected.
- Unemployment rate ticked lower from 4.2% to 4.1%.
- Treasury market:
- Forecasting a cut of 25 bps instead of the expected 50 bps in the next two Fed meetings.
- The Fed will not have to cut as much because the economy is not facing a recession but a slowdown.
Next week:
- CPI inflation data.
- U.S. Consumer Sentiment data.
Stay tuned for next week.
– Andres
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