Weekend Update 4/28/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets rebound on strong #BigTech earnings bolstered by #AI
️🏦 Slowing GDP. Q1 GDP overall grew slower-than-expected, but saw broad pullbacks except in consumer spending. Markets were spooked by the data worrying near-term inflation declines were slowing despite the economy weakening as well.
🤖 AI rebound. Mixed earnings overall, but #AI service providers reported strong results alleviating some bubble fears. Markets cheered the results with #AI leading another market rally.
🏁 Strong finish. It was a strong finish after some initial hesitation and recent red weeks. The S&P 500 ended the week up +2.7% led by Consumer and #BigTech.
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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.