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Daily Scoop 11-8

Daily Scoop 11-8

👋 Your Monday Scoops - Airbnb breaks records & Peloton crashes

November 08, 2021

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Today's Scoop:Stoked

Big Picture

Employment improved more than expected in October.
Congress finally passed the infrastructure spending bill.
Corporate earnings continue to impress.

The Market

⬆️

+0.1%

S&P 500: 4,701.70

1Mo:

+8%

| 1Yr:

+32%

| 5Yr:

+117%

Markets continued the optimism today, following more good news for the economy. The October jobs report showed stronger employment improvement than expected. The unemployment rate fell to 4.6% as employers hired another 531,000 more people. So far, 18 million of the 22 million jobs lost since last April have been recovered. Congress finally passed the first infrastructure bill, which includes $550 billion of new spending on improved roads, bridges, broadband, airports, etc. Including the normal annual infrastructure spending allocation, the total bill is $1.2 trillion. The $1.8 trillion social and climate-focused infrastructure bill, Build Back Better, is still to be passed.

Company Scoops ❤🌎💰

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

Pfizer's

Airbnb's

Peloton's

Uber's

BMW's

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

🤓 Inside Scoop...

Infrastructure is a pretty general term for anything that supports the operations of a business, organization, or nation. Spending on infrastructure for the nation, fixing or maintaining things like roads and bridges, can be business as usual. But big spending bills on infrastructure can also be used as stimulus because spending on construction projects can have a multiplier effect on economic activity. Hiring one person to build a house then puts business in motion for the lumber yard, the concrete mixer, the architect, and so on.