Market Drama

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

February 26, 2024 
Watch Time: 3 minutes

Welcome to this week’s Market Drama!

Stock Market Updates:

  • The S&P 500 was up 1.7%.
  • Nasdaq is up 6.6% year to date.
  • We hit all time highs this past week. 
  • What drove the action?
    • Earnings.
    • Nvidia rose 9% over the week and briefly topped $2 trillion in market cap.
  • AI is proving itself as transformational for the space over time and potentially to the economy as well.
  • Separate from technology, retailers were also up this past week.
    • S&P retail sector gained 1.8% on Friday alone after Walmart presented higher than expected results.

Economic Updates:

  • Earnings being strong has allowed the market to digest that inflation has not come down as fast as expected, meaning the Fed might not cut as many interest rates this year. 
  • The market returns over the last month have been more balanced. 

Coming up next week:

  • PCE Inflation.
  • ISM Manufacturing PMI.

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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