Weekend Update 10/13/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Another green market week finishing on strong bank earnings
π’οΈ Energy volatility. #GlobalTension in the Middle East has crude oil prices rising since the beginning of the month. We saw a little reprieve as China’s stimulus plans came in skimpy, but quickly rebounded back.
πΈ Mixed inflation. September #Inflation caught forecasters off-guard. Both the overall and core CPI topped expectations. However, the PPI was in-line. It had limited market impact though with the Fed and investors already shifting focus away to #LaborMarkets.
π¦ Bank earnings. Markets finished the week powered by a Financials surge driven by better than feared earnings from early bank reporters like JP Morgan and Wells Fargo. The S&P 500 finished another week greenοΌup 1.1%.
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As of the publish date, Ursa portfolios may own JPM.Β These securities may cease to be portfolio holdings at some point in the future. As of the publish date, Ursa portfolios do not own Wells Fargo 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 Ursaβs full disclosures here.