Weekend Update 7/22/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Strong bank earnings and market rotation offset weakening high-growth…
💪 Strong bank earnings. Bank earnings did not disappoint this week. Most solidly beat expectations benefiting from #RisingYields, still resilient consumer banking and stable balance sheets easing residual #BankingCrisis fears.
🔄 Rotating market. While the #RiskOn rally started to fizzle after weak early #BigTech earnings, rotation into #Flight2Safety sectors Financials, Healthcare and Consumer Staples picked up the torch. The S&P 500 finished another week up +0.6%.
🚙 Intensifying EV war? Ford is cutting the price on its F-150 Lightning pickup. Meanwhile, Tesla’s offered a disappointing outlook including slowed production. Seem the competitive environment is building in #ElectricVehicles.
No Ursa account yet? Download Ursa here!
As of the publish date, Ursa portfolios may own F. These securities may cease to be portfolio holdings at some point in the future. As of the publish date, Ursa portfolios do not own Tesla 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.