Weekend Update 10/9/2022

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

Market rallies on Fed pivot optimism, but labor still too hot

🤔  Fed pivot? October kicked off with bullish sentiment that Fed would flinch first and pivot from aggressive #RisingYields path if #RecessionWatch data starts cutting too deep. S&P 500 roared out the gate starting Oct up +6% by Tuesday.

🔥  Labor market still hot. Labor market remained hot with US gaining 263K jobs in September as unemployment drops to 3.6%. While it’s the smallest gain in 17 months, labor market still growing and dashing bulls’ hopes for Fed pivot. S&P 500 retreats -4% still ending up +1.5% for the week.

💻  More semi restrictions. US imposed more semi restrictions requiring licenses to export semi and fab equipment to China. This is in addition to restrictions on semis for military uses to China and Russia last month. Likely continues to increase growing #ChinaTensions.

No Ursa account yet? Download Ursa here!

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.