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Daily Scoop 11-2

Daily Scoop 11-2

👋 Your Tuesday Scoops - Vaccine money & oil's clean future

November 02, 2021

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Today's Scoop:Momentum

Big Picture

Markets keep hitting new records.
U.S. corporations are reporting huge profits.
The United Nations Climate Change Conference (COP26) has been full of big promises so far.

The Market

⬆️

+0.4%

S&P 500: 4,630.65

1Mo:

+8%

| 1Yr:

+37%

| 5Yr:

+122%

Markets broke new record highs for the third day in a row today. Corporations continue to prove that supply chain disruptions, higher prices, and labor shortages are not yet eating into profitability. We're more than halfway through corporate third-quarter updates, and so far, 83% of the S&P 500 companies have reported more profit than investors initially projected.

And now.. some highlights from the first full day of the United Nations Climate Change Conference (COP26):

Joe Biden promised more funding for climate adaptation during his speech
Boris Johnson pledged to boost the UK's climate funding by $1B
India announced plans to reach 500GW of renewable energy by 2030 and set the country's first target to reach net-zero by 2070
Vietnam announced its first target to achieve net-zero by 2050
Nepal moved up its net-zero emissions target to 2045
UN Secretary-General announced a plan for a new initiative to establish international standards for net-zero targets

Company Scoops ❤🌎💰

(Click to dig in & vote your reaction, see how others feel)

Pfizer's

big vaccine money

Apple's

looking to eliminate

BP's

profits keep pumping

Shell's

facing calls for breakup

GM's

going in on EV's

(These links only work for 24 hours while the story is live)

🤓 Inside Scoop...

As companies set target dates to achieve net-zero emissions, they'll be setting emission reduction targets for their Scope 1 (direct), Scope 2 (power-related), and Scope 3 (indirect) emissions. Scope 1 & 2 result from its core operations and the power it purchases to support those operations. Scope 3 will be much bigger and more important but harder to tackle. It includes the emissions of their whole supply chain and even things like employee commutes.