Weekend Update 4/21/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets slide on escalating #GlobalTensions, #AI spending concerns and pushed out #RateCuts
⚔️ Israel retaliates. After efforts from allies to not respond, Israel retaliates with strikes against Iran targets overnight Thursday. For the first time this year, markets looking cautious with growing #GlobalTension in the Middle East.
🤖 AI worries. #AI bubble fears have been on the rise as well. New concerns this week over whether #AI infrastructure spending may be moderating. Investors will be looking at #AI service provider earnings for better signal this week.
🏦 Hawkish Powell. Well that didn’t age well, just a few weeks post dovish Fed commentary and Powell is already shifting back to hawkish. Powell noted it likely takes longer to get confident on inflation progress after recent hotter data. #RateCuts expectations pulling back.
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