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 page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.

Ready to Grow Your Wealth?

Let us connect you with the best financial advisor for you to understand the implications of the markets in your personal financial plan. 

Recent Blogs

About Zoe Financial

Zoe is a wealth platform that connects you to the right trustworthy, credentialed, and experienced wealth advisor for your needs. We believe financial advice should come from unbiased and certified professionals. That’s why Zoe’s extensive vetting process qualifies only the top 5% of managers in the United States.

Net Worth

Best Online Financial Advisor 2022

Net Worth

Series A Led by Softbank

Net Worth

Most Innovative Companies 2022

Net Worth

2019 Annual Fintech Competition Winner

Featured by:

Net Worth
Net Worth
Net Worth
Net Worth