Weekend Update 9/11/2022
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets shake off Russia escalating energy conflict
️⚡️ Nord Stream pipeline shutdown. Russia’s key Nord Stream pipeline remained shut beyond 3-day maintenance. Originally closed to fix leak, Russia now suspending output until ‘collective West’ lifts sanctions in #UkraineCrisis. Russia also to retaliate if price cap imposed on Russian oil.
📈 Inflation optimism resurfacing. After a 3-week market pullback, investors getting optimistic again hoping for a much lower-than-expected CPI readout to make Fed rethink expected 75 bps #RisingYields hike. S&P 500 rebounded up +4% last week.
✈️ Travel refueled. US airline traffic topped pre-pandemic 2019 levels for first-time over Labor Day weekend. Strong holiday weekend following bookings drop last week. Plus more #RevengeTravel cheer with major US airline United’s boosted outlook.
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As of the publish date, Ursa portfolios do not own United with no plans to open new 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.