Weekend Update 1/15/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets rebound on tech optimism from annual CES conference
🎮 CES optimism. The annual CES tech conference boosted growth optimism with numerous announcements and unveilings. Tech led a strong market week with the S&P 500 ending up 1.8%.
🤷♂️ Higher inflation ignored. Both overall and core CPI came in slightly higher than expected at 0.3% M/M for December. While markets were a little choppy after, investors mostly shrugged off the higher results as close enough.
️💼 Tech layoffs. It looks like another round of tech layoffs are starting up again. While not as large as the cuts a year ago, we’ll likely continue to see #CorporateBeltTightening as the higher rate environment will likely pressure companies to prune unprofitable businesses.
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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.