Weekend Update 6/16/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
The market rally continues on inflation cheer
🎉 Inflation cheer. May Core CPI grew just +0.2% M/M down from April’s 0.3% and slowed than expected. May’s PPI backed up the slowing data with the core metric flat M/M. Investors cheering the slowing inflation data and reigniting hopes for imminent #RateCuts.
🏦 Fed pause. The Fed meeting was a bit on the hawkish side with the new dot plot forecasting only 1 rate cut this year. However, investors largely shrugged off concerns rallying behind the new CPI data and still maintaining hope for multiple #RateCuts this year.
📈 New highs. The S&P 500 rallied further up +1.6% for the week. However, market optimism tapered off a bit towards the end of the week. Investors likely trying to figure out what’s next.
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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.