Weekend Update 1/16/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets double down on green as New Year rally continues
🎅 Santa came late. Markets extended their bullish start to 2023. S&P 500 up another 3% and now over 4% YTD. Bolstered by slowing #InflationFears and cooling labor market, investors looking (again) for the end of #RisingYields.
😴 CPI snoozer. Dec CPI fell to 6.5% Y/Y from 7.1% in Nov and in-line with forecasts. The decline was largely driven by energy as core CPI declined less to 5.7% from 6%. Markets maintained earlier week gains without much volatility－potential sign #InflationFears waning.
🏦 Bank earnings. Earnings season began with banks up first. Results weren’t too surprising, but credit reserves are building in anticipation of #RecessionWatch 2023. More banks on tap this week.
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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.