Weekend Update 2/5/2023

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

Markets getting the party started as the Fed slows rate hikes again

💸  Fed slows hikes. February Fed meeting concluded with a lowered 25bps rate hike. Powell cautioned a couple more #RisingYields hikes likely to come, but investors cheering the light at the end of the tunnel. Optimistic markets roared with S&P 500 up 3% through Thursday.

💪  Labor strength persists. US added 517K jobs in January-far exceeding expectations for 187K. Unemployment fell to 3.4% (lowest since 1969). #HotLaborMarket still going strong. Initially hopeful US could potentially avoid #Recession2023, #RiskOn sentiment waned Friday. S&P 500 still finished up 1.5% for the week.

🧐  Earnings volatility. Another earnings week with lots of company-specific news. We continue to see companies being generously rewarded for cautious #CorporateBeltTightening initiatives as well as bottom fishing for #RiskOn Growth names.

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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.