Weekend Update 7/30/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets rally again on economic soft landing hopes…
💸 The last rate hike? Widely expected, the Fed hiked rates by another 25bps. While no decision has been made on any additional hikes yet, investors are optimistic this may be the end of #RisingYields.
💪 Strong earnings. Earnings are broadly beating Street expectations. While post-report reactions might still be a little mixed, earnings and outlooks overall seems to be enough to hold the (very high) line.
📈 No recession? The soft landing scenario is gaining traction. More economic data (GDP growth, labor data and PCE) along with Fed commentary bolstering the ideal outcome. Markets rallying on optimism with the S&P 500 up another +1% for the week.
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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.