Weekend Update 1/8/2023

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

Markets look to forget 2022 starting 2023 bullishly green

💸  No 2023 rate cuts? Dec Fed meeting minutes released with no official expecting #RisingYields rate cuts in 2023. Cautiously optimistic with recent CPI declines, Fed still looking for more evidence of sustained #InflationFears downtrend.

💼  Year of the Labor (Market). New jobs slowed in Dec to 223K down from 256K in Nov. Wage growth slowed too. Some optimism for investors with Fed #RisingYields focus now on slowing hot labor market. S&P 500 surged Friday up +2.5% ending otherwise red week up +1.5%.

💻  Deeper Big Tech cuts. #BigTech seems poised for deeper layoffs. Amazon cutting 18K jobs beginning Jan 18. Salesforce also confirmed plans to cut 10%. We saw the beginning of #CorporateBeltTightening in 2022, but expect more in 2023 with #RecessionWatch looming.

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As of the publish date, Ursa portfolios may own AMZN. These securities may cease to be portfolio holdings at some point in the future. Ursa portfolios do not own CRM with no plans to open 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.