Weekend Update 10/30/2022

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

Growing Fed pivot sentiment rally drives market despite #BigTech tumbling

👀  All eyes on the Fed. Fed meetings isn’t until next week, but didn’t stop investor chatter. November’s #RisingYields 75 bps rate hike is essentially locked-in, but attention is on whether Fed starts slowing the pace to 50 bps. Fed pivot sentiment rallied markets for second week with S&P 500 up +4%.

💪  GDP strength. Q3 GDP rose +2.6% and above expectations. Markets positively viewed data as just right with solid growth, but still showing some signs of deceleration. Markets more optimistic combined with rising Fed pivot expectations that #RecessionWatch doesn’t cut too deep.

🩸  Big Tech bloodbath. Previously viewing as a growth safe haven, #BigTech fell hard this week. Google and Microsoft slipped on slowing growth and softening market demand. While Meta tumbled on excessive #Metaverse spending. Apple was the only bright spot buoyed by strong iPhone 14 launch.

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As of the publish date, Ursa portfolios may own GOOG, MSFT, META & AAPL. These securities may cease to be portfolio holdings at some point in the future. 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.