Weekend Update 11/10/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
A post-election rally plus a stay-the-course Fed has markets surging.
🇺🇸 Post-election rally. A lot of uncertainty heading into the elections last Tuesday ending with Trump winning a second term. Markets broadly rallied expecting a stronger business environment from potential deregulation and corporate tax cuts.
🏦 Stay-the-course Fed. A delayed Fed meeting finished last Thursday as well with more #RateCuts. Largely reiterating its prior stance, Powell highlighted solid economic growth with a focus on balancing inflation progress and stabilizing #LaborMarkets.
📈 Markets surge. The S&P 500 surged with election uncertainty removed and finished the week up 4.7% reversing a two-week market slide. Broad market gains, but Growth and Financials were particularly strong.
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