Weekend Update 7/4/2022

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

Consumer confidence falling with high gas and food price struggles

😥  Consumer concerns. Consumer Confidence Index fell to 16-month lows as US struggles with surging #InflationFears impacting gas pumps and grocery stores (and really everything else too…). Markets getting more cautious with #ConsumerNoConfidence weakening demand.

☯️  Decelerating inflation at a cost. Powell reiterated ‘no guarantee’ Fed can reduce inflation back to 2% while navigating economic soft landing. We continue to view Fed’s #1 priority is #InflationFears reduction with #RecessionWatch likely the cost. S&P 500 ends June down -7% and down -21% YTD.

💔  No love for semis. More negative #ConsumerNoConfidence data points dragging down semi industry with CPU price cuts and PC market demand warnings. In addition, #MadeintheUSA CHIPS Act setback being used as political bargaining chip for other priorities despite bipartisan support.

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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.