Weekend Update 11/5/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets sharply rebound as #Goldilocks euphoria returns
🕊️ Dovish pause. The Fed held rates flat again at their November meeting. While another rate hike is still up in the air, investors viewed Powell’s commentary last week as dovish. Investor optimism is back with the end of #RisingYields potentially near.
🎉 Goldilocks returns. With the dovish Fed commentary, investors getting giddy again for a #Goldilocks soft landing. The S&P 500 finished up almost +6% this week with October ending just down -2% and November jumping out to a +4% MTD start.
️🚙 Auto strike over? All 3 legacy automakers now have tentative agreements with the United Auto Workers union. While still needing membership approvals, the 6-week auto strike may be coming to an end. Investors likely to refocus on slowing #ElectricVehicles demand.
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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.