Weekend Update 8/25/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
It’s rate cut time as markets rally for a third straight week
🥳 Rate Cut time! It’s finally here! Powell signaled #RateCuts are coming in his Jackson Hole speech noting “the time has come” and the direction is “clear”. The question now is the size and speed of the cuts.
📈 Seeing green. Markets rallied for a third straight week with the S&P 500 ending up 1.5% for the week. With recession fears in the rearview mirror, markets have refocused on #RateCuts and hitting that #Goldilocks soft landing.
🤷 Weaker jobs. Lost in the week’s euphoria is the Labor Department slashing 818K jobs from prior estimates between Spring 2023 and Spring 2024. It indicates #LaborMarkets were likely cooler than estimated. We expect investors to focus on #LaborMarkets going forward to gauge #Goldilocks feasibility.
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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.