Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
- The S&P 500 was up 1.6% last week. Currently it is up 9% for the year.
- Cyclical stocks are up to 14% YTD.
- January job reports came in much better than expected, adding 517,000 jobs.
- The expectation was for 185,000.
- Unemployment rate is now at 3.4%.
- The Federal Reserve raised interest rates 25 basis points, which was expected.
When it comes to this week:
- Earnings reports for Disney, Chipotle, Dupont, Pepsi and Company, and others, paint a picture of earnings not doing well.
- We’ll probably see year-over-year drop of 5%, maybe even 6% year-over-year earnings growth.
- On Tuesday, the Federal Reserve Chairman, Powell will have remarks before the Economic Club of Washington regarding disinflation and comments about their forecast for the economy this year.
Stay tuned for next week. Take care.
– 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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