Market Drama

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

January 23, 2023

Watch Time: 2 minutes

Welcome to this week’s Market Drama!

The S&P 500 fell 0.65% last week due to weaker-than-expected December retail sales and industrial production numbers.
The fall for stocks could’ve been worse if it wasn’t for the consumer service sector, which rallied because of Netflix and Google.
- - Netflix rallied over 6% with better-than-expected earnings due to subscription numbers.
  - Google rallied after they made announcements on layoffs.

When it comes to this week:

Proper beginning of Earnings Season. Tesla, AT&T, Verizon, Boeing, IBM, Visa, and Mastercard, among many others, are reporting on earnings.
The January Global Composite Purchasing Managers Index (PMIs) comes out on Tuesday. We’ll see how economic activity’s looking for the month of January so far.
December’s Personal Consumption Expenditure (PCE) price index comes out on Friday.

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.