Market Drama

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

October 23, 2023 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P 500 was down 0.2%.
    • Nasdaq was down 3%.
    • The U.S. Barclays Aggregate Index was down 2%. 
  • What was driving both the stock and bond market action?
    • The ten-year treasury yield moved up higher, closer to 5% this year. 
    • The bond yields continue to rise for the treasury market. 
  • Economic Updates:
    • Stronger than expected retail sales, 0.7% month-over-month growth.

What to expect next week?

  • Expecting to see  annualized GDP numbers – we will probably see 3% rather than 2%.
    • Well above 1.5% that we’ve seen in the past.
    • If the economy is doing fairly well, it is unlikely that inflation will come down. 

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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