Weekend Update 2/26/2023

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

Markets tumble with more data indicating inflation declines decelerating

💸  Sticky inflation. #InflationFears seems more persistent than giddy initial YTD market expectations. The PCE jumped 0.6% M/M in January and 5.4% Y/Y resulting in the first uptick in 7 months. Markets negatively reacted as higher inflation likely results in extending #RisingYields. S&P 500 pulled back last week ending down -3%.

😓  Cautious Fed February Fed meeting minutes released last week. The Fed overall seems on the fence with some members wanting to move past its #InflationFears focus while others worry moderating rate hikes may halt recent inflation progress. Cue up more #RisingYields speculation as investors wait for the next meeting in March.

🛍  Retail worries. Walmart warned customers are pulling back spend due to higher prices and sees slower sales and profit growth this year. Seems #ConsumerNoConfidence is starting to take hold after strong resilient spending through the holidays. Markets tumbled as investors weigh #Recession2023 impacts that have been largely ignored YTD.

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As of the publish date, Ursa portfolios do not own WMT 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.