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Daily Scoop 11-23

Daily Scoop 11-23

👋 Your Tuesday Scoops - Rivian's dumping & Uber marijuana

November 23, 2021

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Today's Scoop:Stalling

Big Picture

President Biden's trying to lower gas prices.
U.S. manufacturing businesses are feeling more optimistic.
U.S. services businesses are worried about climbing prices.

The Market

⬆️

+0.2%

S&P 500: 4,690.70

1Mo:

+3%

| 1Yr:

+29%

| 5Yr:

+112%

Markets floated back up today for no significant reason. Consumer spending seems solid, corporate profits are high, & the labor market keeps improving. But investors worry inflation might get out of control. An IHS survey of purchasing managers in the U.S. manufacturing industry showed improved sentiment for November, but the services industry optimism declined. Managers are still seeing climbing supply costs and struggling to fill open jobs. President Biden today announced that the U.S. would release some of its oil reserves to help lower oil prices from near seven-year highs. America's uniting with India, China, Japan, Korea, and the U.K. in the first coordinated move by a group of oil-consuming national powers to control the price of oil. Usually, everyone relies on the supplying countries like Russia and Saudi Arabia to set the prices.

Company Scoops ❤🌎💰

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

Zoom

loses a little zoom

Uber

breaks into the cannabis market

Target's

closing its doors

Ford

breaks up with Rivian

Levi Strauss

has plans for your waistline

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

🤓 Inside Scoop...

When companies talk about their earnings, they're talking about their profits. You can get a little more technical with the accounting, but at a high level, everyone's talking about profitability. These "earnings reports" provide insights into the quarterly financial performance of each company. "Earnings per share" refers to your share of the profits as an owner of the business.