Weekend Update 2/12/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Market hangover setting in after New Year’s Fed optimism rally
🤔 Deciphering Powell. Fed Chair Powell reiterated ‘the disinflationary process has begun’. However, noted it will be bumpy and take ‘a good amount of time’ to get back to 2%.
️🛑 Fed pushback. Other Fed officials backing up Powell reiterating #InflationFears is still high and expect to maintain ‘restrictive’ rates for a few years. A volatile S&P 500 finished the week down -1%.
🤖 AI war. The #AI arms race is heating up. Last month, Microsoft hype began with a big investment in OpenAI’s ChatGPT. Google responded this week unveiling its chatbot Bard. Investors betting on Microsoft’s lead, but still very early.
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As of the publish date, Ursa portfolios may own GOOG & MSFT. 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.