Weekend Update 1/2/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Anxious, but optimistic markets entering 2023
🎅 No Santa Rally. Santa skipped town this year, but S&P 500 does at least end slightly up for the week. December pessimism around #RecessionWatch fears sank improving #InflationFears sentiment. S&P 500 ends down -6% for December and -19% for the year.
💼 Labor focus. Unemployment claims rose last week to 1.7M (highest in 10 months). Still low relative, but hot labor markets appears to be slowing. Fed to scrutinize labor markets as next phase of #RisingYields decision making.
🇨🇳 China U-Turn. Meanwhile, China reversed its strict Zero-COVID policy and reopened. The whiplash move has #COVID19 cases (and deaths) surging. There’s potential for supply chain issues as China recovers.
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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.