Weekend Update 6/5/2022

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

Financial “hurricane” warning as investors debate recession forecast

🌪  Hurricane warning. Banking CEO Jamie Dimon warns of economic “hurricane” brewing with storm of macro issues like #UkraineCrisis#SupplyScare#InflationFears and #RisingYields. Markets continues to debate #RecessionWatch odds.

🛢  Oil boost. OPEC agreed to increase oil production by almost 50% in July and Aug-could partially offset shortage driven by sanctions against Russia for atrocities in #UkraineCrisis. Crude oil prices initially dipped, but recovered as producers may not adjust as quickly.

💼  Strong jobs report. US added 390K new jobs in May-higher than expected signaling continued economic strength. It was a double-edged sword as strength also makes it less likely for Fed to adjust aggressive #RisingYields hikes in fall. S&P 500 ends down -1% in volatile short week.

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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.