Weekend Update 12/1/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Not much happened on a slow, shortened Thanksgiving week－so let’s focus on what’s next…
🛳️ Tariff threats. Trump announced he would enact a 25% tariff on all products from Canada and Mexico (and China too) to curb illegal immigration and the drug trade on day 1 in office. Overall markets largely shrugged it off, but exposed industries like auto took a hit.
💻 Computer weakness. Despite the short week, a couple PC makers reported earnings noting a weak PC outlook and surprising decline in #AI revenue. Despite the overall market rally, #AI names saw red for the week.
🛍️ Holiday kickoff. It was a slow, shortened week with the Thanksgiving holiday. However, investors only needed 3.5 days for the S&P 500 to rally ending the week up 1.1%. Black Friday kicks off the holiday shopping season.
No Ursa account yet? Download Ursa here!
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.