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Daily Scoop 11-24

Daily Scoop 11-24

👋 Your Wednesday Scoops - Strike at Kellogg & organized crime at Best Buy

November 24, 2021

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Today's Scoop:Cooked

U.S. banks and markets are closed for the Thanksgiving holiday tomorrow, so we'll be back again next week.

Big Picture

Layoffs have fallen to the lowest rate since 1969.
Prices for consumer goods are rising at the fastest rate in 30 years.
Supply disruptions have left many retail companies struggling to fill their shelves.

The Market

⬆️

+0.2%

S&P 500: 4,701.46

1Mo:

+3%

| 1Yr:

+30%

| 5Yr:

+112%

Markets floated higher today in anticipation of a day off tomorrow. Economic data has been very mixed, leaving investors wondering what's next. Weekly initial unemployment claims fell to the lowest level since 1969, with only 199,000 people laid off last week. Data around holiday weeks can sometimes be unreliable due to seasonal adjustments, but it shows improvement in the labor market. Consumer inflation rose to the highest level in 30 years, with core personal consumption expenditures, excluding volatile food and gas prices, rising 4.1% over last year. Investors are trying to figure out if inflation will run high enough for long enough that policymakers will have to cut off the stimulus before the economy fully recovers.

Company Scoops ❤🌎💰

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

Kellogg's

replacing 1,400 striking workers

The Gap

can't manage its supply chain

American Eagle's

ready to sell

Best Buy's

facing an organized crimewave

Samsung's

moving to Texas

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

🤓 Inside Scoop...

There are three main reports people watch to understand trends in the labor market. The U.S. Bureau of Labor Statistics puts out the "big" monthly report highlighting the unemployment rate and job growth. There's also a private-sector survey from ADP and the weekly initial unemployment claims (a proxy for layoffs) report from the Labor Department.