Weekend Update 10/1/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Volatile finish to September as markets continue to adjust #RisingYields expectations
😓 Volatile markets. A volatile finish to September with intraday reversals and recoveries all week. The S&P 500 ended the week down -0.7% and down -5% for the month. Despite the #RisingYields expectations reset, the market is still up almost +12% YTD.
🏛️ Shutdown averted. On Saturday, the House passed a stopgap bill to keep the US government funded in the interim. Avoiding a shutdown will lessen uncertainty in the markets. However, we may be in store for another down to the wire bill fight in 45 days.
🎥 Strike factor. Hollywood closer to restarting with the Writers Guild and studios coming to an agreement this week. Meanwhile, the United Auto Workers expanded its strikes against automakers. We continue to monitor these developing events’ impact on companies and markets.
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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.