Weekend Update 7/7/2024

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

Fireworks kick off July as the market rally continues

🕊️ Dovish Powell. More dovish commentary from Fed Chair Powell got markets moving. In a speech, he noted signs inflation was resuming a disinflationary trend. Markets licking their lips for the coveted #Goldilocks soft landing.

💼 Slowing #LaborMarkets. The JOLTS report saw job openings unexpectedly rising, but the quits rate held steady. Meanwhile, nonfarm payrolls grew more, but slower than revised lowered May numbers and unemployment ticked up above expectations. The data bolstering expectations for #RateCuts.

🎇 Opening fireworks. The rally lost no time getting started in July despite the shortened holiday week. The S&P 500 was up 2% for the week to start the new month.

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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.