Weekend Update 9/17/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Volatile triple witching day wipes out earlier week’s rally
💸 Mixed CPI data. Headline August CPI inflation reaccelerated to 3.6% as Core CPI continued its fall to 4.3%. With oil costs surging, going forward it may be harder for Core CPI to continue to decline.
️🧙♀️ Triple witching day. Markets reversed earlier week gains on September’s triple witching day (third Friday of the month when options and futures expire). Investors continue to fret stronger macro data could ruin the #Goldilocks soft landing. The S&P ends weeks slightly lower.
🚙 UAW auto strike. The United Auto Workers union went on strike on Friday after failing to reach an agreement with the “Big 3” US automakers. It was a targeted strike at specific factories, but could expand if negotiations don’t make progress.
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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.