Weekend Update 2/27/2022
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Market optimism despite Russian invasion of Ukraine
⚔️ Ukraine invasion. After weeks of #UkraineCrisis escalation, Russia invaded Ukraine on Wednesday night (US time). US and other NATO nations retaliated by imposing severe sanctions on Russia with little deterrence impact so far. Initially plummeting -3% premarket, S&P 500 rallied ending up +1.5% on Thursday.
🗣 Russia ready to talk? Russia agreed to send a delegation to not-so-neutral Belarus to talk with Ukraine. Despite Russia continuing assault in the meantime, markets continue rally Friday on glimmer of hope for speedy #UkraineCrisis resolution. S&P 500 up +2% Friday and ends week up +1%.
🚚 Freedom Convoy protests. Lost in Ukraine news cycle, anti-#COVID19 trucker protest Freedom Convoy upended cross-border trade between 🇺🇸 and 🇨🇦. Likely disrupting auto industry production for several weeks adding on to existing #SupplyScare issues.
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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.