Weekend Update 7/16/2023

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

The market rally continues as inflation continues to moderateโ€ฆ

๐Ÿ“‰ Moderating inflation. June CPI shows inflation slowing faster than forecasted and bolstered by new PPI data released the following day. Markets rallied again this week with the S&P 500 up +2.4% on moderating inflation.

๐ŸŽฎ Activision unblocked. A US federal court rejected the FTC’s attempt to block Microsoft’s acquisition of Activision. The FTC appealed, but was quickly denied by an appeals court. The deal looks primed to close after almost 1.5 years of scrutiny (just the UK left to wrap up).

๐Ÿ˜บ Schrรถdinger’s recession. Investors have heavily focused YTD on inflation, rate hikes, and consumer sentiment. Everyone’s trying to figure out the potential #Recession2023 impact. At this point, markets are trading as if we’ve already secured the balanced “Goldilocks” scenario.

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As of the publish date, Ursa portfolios may own MSFT & ATVI. 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 Ursaโ€™s full disclosures here.