Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Welcome to this week’s Market Drama!
Stock Market Updates:
- The S&P 500 is up 0.9% for the week.
- Nasdaq was up 1.7%.
- February was a very strong month.
- Drivers:
- AI narrative.
- Chip manufacturers continue to rise.
- Not only technology stocks driving the rally; a big component is earnings.
- Earnings:
- 90% of the S&P 500 have reported results.
- Revenue is growing at 3.8% as a whole.
- Earnings growth is tracking at 7.5%.
Economic Updates:
- Inflation Data:
- Personal consumption expenditures index (PCE): Core number for January was up 2.8% year-over-year.
- Manufacturing PMI Data: Rose to 52.2% (above 50 means expansion).
Coming up next week:
- Going forward in March the Fed will tell us how they see interest rates going.
- ISM Service PMI.
- Non-farm payrolls report.
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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