Weekend Update 5/19/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Markets push to new all-time high on moderating inflation
💸 Moderating inflation. April CPI came in below expectations and signaling some moderation from the reaccelerating inflation in Q1. April PPI was more mixed, but largely driven by investment services. Markets continued the May rally with the S&P 500 up 1.5% for the week.
🛍️ Consumer weakening? April retail sales were flat M/M below expectations. The softer results may be potentially signaling finally a slowdown in consumer spending. Consumer spending has been incredibility resilient despite higher inflation.
️🎮 Return of the meme. The meme stock rally returned last week sparked by a tweet from Keith Gill aka Roaring Kitty. While stocks like GameStop and AMC surged to open the week, the rally mostly fizzled out by the end of the week.
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As of the publish date, Ursa portfolios do not own GME or AMC 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 Ursa’s full disclosures here.