Weekend Update 12/7/2024
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
The jobs report didn’t disappoint. We don’t see anything likely standing in the way of a Christmas rally now.
🛍️ Holiday spending. Coming off Thanksgiving, we got the early holiday shopping numbers from Black Friday and Cyber Monday. Black Friday topped a record $10B and Cyber Monday followed up with over $13.2B. Resilient #ConsumerConfidence appears to continue.
💼 Jobs win. Tentative trading ahead of the November jobs report, but it didn’t disappoint. Nonfarm payrolls added 227K jobs in November rebounding from a revised 36K in October and above expectations. Averaged with October, jobs fell from September’s blowout, but an improvement from the weaker summer #LaborMarkets.
️🎄 Christmas time. The S&P 500 ends the week up 1%－continuing to climb higher from all-time highs. With the jobs report out of the way, we don’t see anything likely standing in the way of a Christmas rally now.
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.