Market Drama

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

September 5, 2023 
Watch Time: 2 minutes

Welcome to this week’s Market Drama!

  • The Stock Market:
    • The S&P 500 was up and so was Nasdaq.
      •  S&P 500 was up 2.5% last week.
      • Nasdaq was up 3.2% for the week. 
  • Treasury bond yields fell (bond prices went up).
    • All in the back of softer-than-expected job data. 
  • Economic Data:
    • In August, U.S. non-farm payroll was mixed.
      • Total non-farm job numbers were 187,000 above expectations of 170,000.
    • Labor force participation was up to 62.8% (highest post-pandemic).
    • The more people there are working or looking for a job, the less pressure there is on wages, and wage growth is directly linked to inflation. 
    • Average hourly earnings were up 4.3% year-over-year.
    • Hourly earnings below 4% indicate a good sign for inflation. 
    • If we continue to see better-than-expected inflation numbers lose their job market, but not a full blown recession, that seems to be the sweets pot for treasury yields to be falling and for stock markets to continue to go 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. Zoe Financial does not provide legal advice.
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