Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
Stock Market Updates:
- S&P 500 was up 1.1% for the week. Up 21.9% YTD.
- Nasdaq was also up, 1.1%. Up 22.2% YTD.
- What drove market action?
- CPI data was higher than expected:
- Headline CPI: 3.3% YoY.
- Core CPI (food & energy excluded): 0.3% MoM.
- CPI data was higher than expected:
Economic Updates:
- September PPI (Producer Price Index) was flat MoM, coming in lower than expected and easing market concerns about inflation.
- Minutes from the Fed’s last policy meeting: most members preferred a 25-basis points cut over a 50-basis points cut.
Next Week: Retail Sales
Stay tuned for next week.
– Andres
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