Weekend Update 3/3/2024

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

Off-cycle AI earnings keeps the hype train (and overall markets) moving up

💪 February FTW. The S&P 500 ended the month up 5.2% as #AI euphoria continues to run rampant. Extending January’s gains, the S&P 500 is now up almost 7% YTD.

🚂 Full steam ahead. The #AI hype train continues to chug along as off-cycle earnings reinforced the expected massive spike in demand for the computing supply chain. #AI euphoria offset a wavering #Goldilocks narrative.

🧐 Recession lurking? Overshadowed by the #AI euphoria, more macro data released reflecting stalled inflation decline progress. January Core PCE rose 0.4% M/M accelerating from December backing the similarly higher CPI and PPI data.

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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.