Market Drama

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

December 19, 2022 

Watch Time: 5 minutes

Welcome to this week’s Market Drama.

  • The S&P 500 fell 2%. That puts it down 17.8% for the year.
  • 10-year treasury yield fell 17 basis points, which means treasury bonds’ prices went up. 
  • We had November CPI numbers out and they were better than expected.
    • For example, core CPI was up year-over-year by 6%. It was expected to be up 6.1%.
  • On Wednesday, the Fed announced that they’re hiking 50 basis points to 4.5%. 
  • Retail sales declined 0.6% from November month-over-month. This is important since consumption is 68% of GDP. The fact that retail sales are down is an indication that the most important driver of growth is not looking so hot going into next year.
  • Manufacturing PMI also declined to 46.2 from 47.7 in November. When it is below 50, it means contraction.

What to look forward to this week? 

  • On Tuesday, we have November housing starts and new and existing home sales out
    • Real estate and housing are really important indicators for the overall economy.
  • On Friday, the Personal Consumption Expenditure (PCE) Index for November comes out. 

Happy holidays and 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. 

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. 

Find My Advisor

Recent Blogs

Explore More