Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
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.
- The S&P 500 was up and so was Nasdaq.
- 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.
- In August, U.S. non-farm payroll was mixed.
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.
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