Weekend Update 8/7/2022

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

Growth leads markets higher as S&P 500 extends July gains

🇹🇼  Trouble in Taiwan. House Speaker Pelosi visited Taiwan last week sparking outrage from China. #ChinaTension mounting with increased military exercises as retaliation. Markets started week lower on new Asia macro uncertainty, but Semis rose on Pelosi’s implied support for Taiwan.

🛢 Small OPEC boost. OPEC agreed to slightly increase oil production following President Biden’s Saudi Arabia visit. While not the a huge increase to bring down surging #InflationFears gas prices, crude oil still fell -10% last week and finished below $90. Oil pullback likely spurred “Risk ON” market rally with Growth up over +1%. Overall S&P 500 rebounds from earlier losses to finish slightly higher.

🍞  Shift to staples. #RevengeTravel earnings beat, but warns July growth decelerating. Meanwhile, Walmart notes customers shifting spend towards basic staples like food and toiletries. Seems #InflationFears and #RecessionWatch may finally be hitting consumer spending. We’ll see if #ConsumerNoConfidence sentiment starts building again.

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As of the publish date, Ursa portfolios do not own Walmart nor plan to establish positions in the next 5 days. Any mention of these securities is for purely informational purposes only and NOT investment advice.

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.