Weekend Update 5/16/2021
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Inflation Spikes in April 💸
💸 April inflation at 13-year high. April 12-month inflation rate exceeded 4% hitting a 13-year high. Confirming #InflationFears, S&P 500 fell -2% Wednesday. However, recovered losses by weekend following Fed indicating multiple months of data needed before reducing monetary support.
☯️ Market rebalancing. Overall S&P 500 only down -1% last week. Growth sectors continue to bear brunt of sector rotation with Consumer Discretionary down -4% and Tech down -2%. Meanwhile, #Flight2Safety Financials gained on week.
🤔 No masks for vaccinated? CDC rescinds mask guidelines for fully vaccinated. More momentum for 🇺🇸 #COVIDRecovery progress. Win for travel names surging Friday off read thru.
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The statements, opinions and analyses presented here are provided as general information. This article is the opinion of the author. Anything within this article should NOT be considered an investment recommendation or advice. See Ursa’s full disclosures here.