Weekend Update 1/28/2024

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

S&P 500 continues to inch up to new highs despite mixed early earnings

🏔️ New highs. The market rally continued with the S&P 500 up 1.1% for the week. A new market high was set on Thursday with Friday’s trading ending just slightly lower.

🤔 Mixed earnings. Earnings season getting underway with a mixed bag of reports. Airline outlooks crushed it while telecom and tech were more mixed. The bulk of our names are reporting over the next 2 weeks.

😰 Tentative markets. Markets continue to extend to new highs, but starting to feel a bit tentative. The last few days of the week opened with higher gains earlier in the day before giving it up by the end.

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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.