Weekend Update 2/4/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
S&P 500 hits new highs as tech and jobs overcome hawkish Fed
🏦 Higher for longer. The Fed pushed back against the quick #RateCuts narrative explicitly noting a March cut was unlikely. However, markets largely ignored the hawkish commentary and still pricing in a chance for March cuts and six total this year.
🏆 Big Tech earnings. While a little mixed to start, #BigTech earnings largely hit a homerun and overshadowed any investor fears of delayed #RateCuts. Meta, in particular, soared on a huge beat and raise, new dividend and big buyback.
🙌 New highs. Adding in more #Goldilocks labor data, markets rose to new record highs despite a brief pullback after the Fed meeting. The S&P 500 finished the week up 1.4% at a new record all-time high.
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As of the publish date, Ursa portfolios may own META. 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.