Market Drama

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

August 28, 2023 
Watch Time: 3 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 0.8% this past week.
      • Nasdaq was up 2.3% for the week. 
      • Dow Jones was down 0.4%.
    • Gross stocks outperformed value shares. 
    • Big story: Nvidia. 
  • Economic Data:
    • The Fed, Powell’s speech:
      •  No big reveals or shift in expectations. 
      • Focus on bringing down inflation.
    • Earnings:
      • Q2 will likely mark the end of earnings downturn. 
    • Macro data:
      • New home sales reached highest lever since July 2022 despite seeing highest mortgage rates in years. 

When it comes to next week:

  • Core PCE data.
  • Inflation data.
  • On Friday: U.S. payroll data, U.S. unemployment data, and U.S. hourly wage data. 

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. 

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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.