Weekend Update 7/21/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
A deep red week includes Taiwan worries and a global tech outage
🇹🇼 Taiwan worries. Trump foreign policy comments were skeptical on whether he would continue to defend Taiwan from China should he become president. The ambiguity spooked markets particularly Taiwan-based TSMC-dependent tech and semi names (especially #AI).
🏗️ Tech Rotation. The rotation out of tech names continued this week with Value outperforming Growth by 4.5%. The declines steepened in the 2H of the week with the overall S&P 500 ending down -2%.
️💻 Global PC outage. The week ended with a global tech outage stemming from a faulty update from #CyberSecurity company CrowdStrike. Thousands of PCs got the dreaded blue screen of death causing a massive global outage.
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As of the publish date, Ursa portfolios do not own TSM with no plans to open any positions in the next 5 days. Any mention of these securities is for purely informational purposes only and NOT investment advice.
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.