Weekend Update 5/12/2024

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

Markets continue to extend May’s early optimism

📈 The rally continues. The S&P 500 extended its early May gains up another +1.9% this week. Markets continues to rebound from April’s decline on renewed #Goldilocks soft landing optimism.

️💼 Higher jobless claims. More weak #LaborMarkets data to continue to bolster hopes for the soft landing. Jobless claims rose more than expected to its highest level in 8 months.

🛍️ Sentiment falling? Meanwhile, the consumer sentiment index fell below expectations. Consumer spending has remained incredibly resilient in the face of steep inflation over the past few years.

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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.