Weekend Update 1/12/2025
Weekend Update recaps market highlights and major news from Ursa’s portfolio. Not on Ursa yet? Download Ursa from the App Store!
Jobs surged in December causing markets to tumble Friday. Why is a good jobs report bad?
🤖 CES dud. The annual consumer electronics showcase CES was this week with #AI leader Nvidia’s CEO keynoting. We saw some #AI momentum leading into the event, but ended up a “sell the news” mentality after the typical slew of PR announcements were released.
💼 Too strong jobs report. The December jobs report smashed expectations with 256K new jobs added－topping November’s 212K and the expected 155K. Meanwhile, unemployment fell to 4.1%－also better than expected. Despite some concerns last summer, #LaborMarkets seem to be doing just fine.
📉 Jobs sink markets. The jobs report caused markets to tumble Friday with the S&P 500 ending the week down -1.9%. While #LaborMarkets appear to have strongly rebounded, this likely pushes out #RateCuts further so the Fed can focus on sticky #Inflation.
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As of the publish date, Ursa portfolios may own NVDA. These securities may cease to be portfolio holdings at some point in the future. 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.