Weekend Update 10/15/2023

Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!

Rising macro uncertainty gives investors’ renewed #Goldilocks confidence pause

😳 Hamas attacks Israel. Last weekend, Palestinian terrorist group Hamas hit Israel with a surprise attack that led Israel to declare war. Tensions have been steadily rising all week with another global conflict adding to macro uncertainty. Crude oil pricing on the uptick again.

🕊️ Dovish Fed? Markets shook off the Hamas attack uncertainty early week with positive Fedspeak. Officials echoed a softening #RisingYields position given inflation progress and moderating #LaborMarkets. The S&P 500 rose 4 straight days through Wednesday.

🥵 Hotter inflation. September CPI came in hotter at +0.4% M/M to 3.7% Y/Y. Core CPI was in-line, but accelerated to +0.3% M/M. Combined with rising oil pricing, falling consumer sentiment and stronger labor, the S&P 500 fell the 2H of the week, but still ended up +0.5%.

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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.