Weekend Update 10/22/2023

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

Markets fall on Powell commentary reversing the prior week’s dovish Fed sentiment

😾 Schrodinger’s Fed. Fed commentary this week was more mixed with Powell reiterating his cautious stance on #RisingYields and inflation. While recent moderating inflation is a “very favorable development”, he noted monetary policy isn’t “too tight” right now.

🔥 Hot, hot economy. Mounting geopolitical concerns but the US economy continues to chug along. #LaborMarkets continue to remain strong and consumer spending continues unabated. The S&P 500 ends the week down -2.4%.

🏛️ House turmoil. Representative Jim Jordan failed 3 times to become the next US House Speaker. Republicans are now starting back at zero again. The stopgap funding bill expires mid-November and every day without a Speaker makes a government shutdown more likely.

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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.