Weekend Update 1/1/2024

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

Markets close the year with a 9th straight green week

🎅 Santa rally finish. It was a very slow week book-ended by Christmas and New Years. Markets continued its holiday cheer with the S&P 500 slightly higher up 0.3% for the shortened holiday week.

🚀 2023 blasts off. The S&P 500 finished the year up almost 25%. Lead by high growth Tech and Comm, it was a sharp reversal from 2022’s -19% drop. More to come soon in our Farewell to 2023 retro.

🏔️ Yields peak. The story of the year was #RisingYields. While likely has reached its peak, the Fed ended 2023 with the Fed Funds rate at 5.25% to 5.5%. All eyes next year will be on how quickly will it come down.

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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.