Weekend Update 3/31/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Slow, but volatile week as markets await new PCE data released on holiday
️🫨 Slow, but volatile. It was a slow, short news week from the Good Friday market holiday. The S&P 500 ended up 0.4% for the week and 3.1% for the month. #AI optimism continues to push markets higher.
🤷♂️ Still hawkish? Fed Governor Waller noted there is “no rush” to start #RateCuts and that there was still uncertainty around continued inflation reduction progress. Markets largely shook off the hawkish commentary.
💸 In-line PCE. February Core PCE rose in-line with expectations and decelerated off January’s increase. Analysts were mixed on the impact to #RateCuts relieved there was no upside surprise, but still concerned with stickier inflation.
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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.