Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
Stock Market Updates:
- The S&P 500 was up 1.4% for the week.
- There was a lot of volatility within the week.
- What caught the market by surprise: The Fed gave us insight on lowering interest rates coming later in the year.
Economic Updates:
- Got jobs data for January and we saw 353,000 new payrolls for the month – double the consensus estimate.
- Unemployment rate stayed at 3.7%.
- Wage growth increased at 4.5% year-over-year.
- The highest since last September.
- The Fed will be on pause until they see inflation coming down for all indicators.
Coming up next week:
- Update on how we are doing with earnings season.
- ISM services and PMI readings.
Stay tuned for next week.
– Andres
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