Weekend Update 12/23/2023
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets rally for 8th straight week heading into Christmas
😳 Rally jitters. It was a slow news week, but some market jitters with FedEx’s outlook coming in lower than expected. Some investors are still concerned that the resilient consumer demand may be faltering and could be a risk to the #Goldilocks soft landing.
🥣 Mixed macro… just right. However, markets were able to shake off the midweek jitters with more balanced macro data. Q3 GDP was revised slightly lower while initial jobless claims rose in the past week and manufacturing activity shrunk.
🔥 8th straight week. Despite a midweek dip, markets continue to rally on the end of #RisingYields euphoria. A Santa rally drove the S&P 500 up almost another 1% this week and now up 4% MTD in December.
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As of the publish date, Ursa portfolios do not own FedEx with no plans to open any positions in the next 5 days. Any mention of these securities is for purely informational purposes only and NOT investment advice.
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.