Market Musings 10/24/2024
Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store!
Earnings are off to a bumpy start with some winners and losers…
As expected, earnings are off to a bumpy start. We definitely have seen some winners and losers so far.
Tesla blew out expectations with solid margin improvement and more concrete timelines around its future robo taxis.
Meanwhile fellow automaker, General Motors also topped expectations, but from strength in the legacy auto side. You know the normal gas ones…
We also saw disappointments including Verizon and GE Aerospace.
While we got a little uptick today, in aggregate, the S&P is still down almost a percent for the week.
Overall, markets continue to trade tentatively from last week’s highs.
A lot is likely already priced at this point with investors looking for the catalyst for another rally.
In the meantime, as is typical for an earnings season, we’re likely to continue to see more company-specific volatility from winners and losers as companies line up for investors to judge last quarter’s performance.
No Ursa account yet? Download Ursa here!
As of the publish date, Ursa portfolios may own GM. The stocks mentioned in this article may cease to be owned by Ursa portfolios at any point. As of the publish date, Ursa portfolios do not own Tesla, Verizon or GE Aerospace with no plans to open any new positions in the next 5 days.
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.
Original Photo by Pixabay.