Weekend Update 9/4/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
August finishes strong as “Goldilocks” soft landing optimism returns…
😎 Strong finish. The S&P 500 finished August down -1.8%. However, negative sentiment troughed after 3 bearish weeks down -5%. It was followed by a +3% recovery to end the month.
💸 Mixed data. More labor and inflation data in the past week supporting the #Recession2023 soft landing scenario. The data was mostly mixed, but investors getting back onboard the “Goldilocks” bandwagon.
👀 Eyes on the Fed. With the mixed macro data, odds on another #RisingYields rate hike in mid September fell to 50/50. Investors bullish again that rate hikes could be over and the US will avoid a recession. The S&P 500 ends the week green again up +2.5%.
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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.