Weekend Update 4/23/2023

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

Cautious, sideways market with big earnings week on tap…

😓 Cautious market. S&P 500 finished the week essentially flat as markets felt tentative despite more earnings and a big week coming up next. We’re starting to see some #Flight2Safety Value rotation after a strong #RiskOn Growth start to the year.

🏦 Bank rebound. More banks reported healthy earnings this week and continues the sector’s rebound from last month’s #BankingCrisis. Financials outperformed the overall market ending the week up +1%.

🚙 EV price war. Tesla cut #ElectricVehicles prices for the 6th time this year. While Tesla claims demand remains healthy, investors are increasingly worried about a competitive price war brewing in #ElectricVehicles both in the US and internationally.

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As of the publish date, Ursa portfolios do not own TSLA with no plans to open any 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.