Weekend Update 6/23/2024

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

Slow week as markets grow cautious again

🤖 1H: more AI cheer. The first half of the week continued the #AI rally. Multiple analysts released reports pounding the table on the usual #AI suspects. The S&P 500 rose another +1% into the Juneteenth market holiday.

⚠️ 2H: Caution growing. However, investors returned from the midweek break a little more cautious. #AI names pulled back and gave up some of the previous gains. Markets ended the week red with the S&P 500 falling -0.4% following the midweek break.

😅 Still green. Despite the late week pullback, the S&P 500 still ended up +0.6% for the week and extends the rally. Seasonally slower summer trading is showing with a growing cautious market plus triple witching day not driving much volatility.

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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.