Weekend Update 10/20/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Choppy market week as more companies begin reporting Q3 earnings
😴 Solid, but boring. September retail sales were better-than-expected while weekly jobless claims declined in-line with estimates. It was a solid (and boring) week on the macro front, but the data is trending in the right direction for a #Goldilocks soft landing.
️😄 Strong start. Earnings this week were mostly positive. Banks did well bolstered by wealth management and investment banking. Semis were a little mixed with equipment maker ASML disappointing, but manufacturing leader TSMC beating on ongoing surging #AI demand.
📈 Sixth straight. The S&P 500 finished the week up 0.9% for the sixth straight green week. For the most part, earnings conjured up more positive market momentum.
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As of the publish date, Ursa portfolios do not own ASML or TSMC 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.