Weekend Update 7/9/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Mixed labor signals as investors continue to weigh rate hike and recession odds…
🇨🇳 Rising tensions. China curbed exports of chipmaking materials gallium and germanium. The new restrictions came amid reports the US weighing more limitations including access to #AI cloud computing. #ChinaTension temperature rising despite Yellen’s current visit.
💼 Mixed signals. Mixed jobs data this week has investors second-guessing #RisingYields expectations. ADP’s jobs report came in too hot while nonfarm payrolls came in slightly under expectations. Markets seesawed on the prints, but ultimately gave way to caution. The S&P 500 ended the week down -1%.
💬 Twitter Killer? Instagram launched Threads directly competing with Twitter. As of Friday night, Threads already had over 70M downloads. Since Musk’s takeover, many social text apps have attempted to take share from Twitter, but Threads seems the best positioned to do so.
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As of the publish date, Ursa portfolios may own META. 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.