Weekend Update 6/10/2023

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

S&P 500 exits current bear market with CPI & Fed on tap…

πŸ‚ New bull market? The S&P 500 entered into a new bull market largely driven by bullish #AI optimism. While many still question the rally’s sustainability, the S&P 500 up for the 4th consecutive week with Consumer Discretionary the big winner.

πŸ’Ό Higher unemployment surprise. May unemployment claims rose +12% M/M to 261K surprisingly higher than expected. Potential signal that the resilient #LaborMarkets may be cooling and could bolster the Fed’s #RisingYields pause decision next week.

πŸ₯½ Metaverse Part 2? Apple finally unveiled its new mixed reality headset Vision Pro. Despite being a fad that fizzled out quickly last year, #Metaverse may be hoping for a comeback.

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As of the publish date, Ursa portfolios may own AAPL.Β 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.