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Daily Scoop 12-1

Daily Scoop 12-1

👋 Your Wednesday Scoops - Microsoft sexual harassment & Exxon's spending plans

December 01, 2021

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Today's Scoop:Shaky

Big Picture

Omnicron has reached the US.
More people got back to work in November than expected.
Fewer people got back to work in November than in October.

The Market

⬇️

-1.2%

S&P 500: 4,513.04

1Mo:

-3%

| 1Yr:

+23%

| 5Yr:

+106%

Markets started the day positively on the back of a good jobs market update but turned negative on word that omicron has made it to the US. Payroll provider ADP released their monthly survey of private-sector jobs, showing 534,000 jobs were created last month. That's more than economists expected, but down from October's 570,000. The Center for Disease Control confirmed the first case of covid-variant omicron in California today. Investors worry about economic growth slowing while inflation rises.

Company Scoops ❤🌎💰

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

Microsoft

forced to report sexual harassment

Exxon's

investing in new projects

Allbirds

moves further from profitability

Nissan's

making big electric plans

Salesforce

has a new direction

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

🤓 Inside Scoop...

Some fossil fuel companies have pledged to reduce their carbon intensity but not their overall carbon emissions. Carbon intensity refers to the amount of carbon emissions per barrel of oil produced. So an energy company can invest in technology like carbon sequestration, which takes carbon out of the air, to reduce some net pollution. It does not necessarily mean the company's emissions are reducing. If a carbon sequestration system captures 10% of the emissions from producing a barrel of oil, the carbon intensity of producing that barrel declines. But if the company doubles its output, it's now producing 80% more total emissions, despite fewer emissions per barrel.