Weekend Update 5/1/2022

Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!

S&P 500 falls back into correction territory as market bleeds

😬  Recession worries. Big earnings week with >40% of our companies reporting. Main takeaway being #COVID19 winners like e-commerce and WFH giving way to #COVIDRecovery like travel. #UkraineCrisis pressuring near-term outlooks, but not derailing long-term prospects. Overall very bearish sentiment with S&P 500 down -3% for week.

📉  Correction territory (again). Markets wrap up a very bearish April. S&P 500 fell -9% in driven by #RisingYields and #RecessionWatch. Growth bore the brunt down -13% as 10-year treasury yield spiked +24%. In contrast, #Flight2Safety Value fell only -5%.

🏖  COVID Recovery. We continue to see a reverse from the last two #COVID19 years. Pandemic winners struggle with growth slowdown across e-commerce, PCs, broadband and streaming. Meanwhile, #COVIDRecovery is the bright spot despite overall bearish market with #RevengeTravel demand strength and robust consumer spending.

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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.