Weekend Update 11/24/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Another beat and raise for Nvidia, but high #AI expectations are catching up to demand.
🤖 AI demand continues. Despite Nvidia slipping on overhyped investor expectations, #AI demand is still alive and well. The week saw server and components popping on the positive read thru, while #BigTech cloud providers pulling back as they’ll be fronting the costs.
😴 Macro snoozer. Nothing much on the macro front with more in-line weekly jobless claims. Some mixed consumer datapoints as well after multiple retailers reported earnings. The macro continues to be trending towards a #Goldilocks soft landing.
📈 Market rallies. The S&P 500 rebounded this week to end up 1.7%. Bolstered by Value names, markets resumed their macro optimism after last week’s pull back.
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As of the publish date, Ursa portfolios may own NVDA. These securities may cease to be portfolio holdings at some point in the future. 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.