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Daily Scoop 12-22

Daily Scoop 12-22

👋 Your Wednesday Scoops - Starbucks union talks & Nike's supply issues

December 22, 2021

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Today's Scoop:Cruising

Big Picture

Consumers are more confident this month.
US economic growth is more robust than economists expected.
More people are buying homes and at higher prices.

The Market

⬆️

+1.0%

S&P 500: 4,696.56

1Mo:

+1%

| 1Yr:

+27%

| 5Yr:

+107%

Markets continued their rebound from the 3-day jitters caused by the rapid rise of covid cases and the disruption of the Build Back Better stimulus bill. The Commerce Department announced

third-quarter economic growth was actually stronger than initially reported,

with GDP

growing 2.3% in the quarter. The National Association of Realtors said

home sales continue to rise

, but so do prices. The median home price in the US was $353,900 in November. According to the Conference Board's December survey,

consumer confidence is growing too

Company Scoops ❤🌎💰

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

Starbucks

addresses its union uprising

Nike

can't keep up with demand

FedEx

now has an electric fleet

Toyota

had to shut down production

McDonald's

had its first breakup in a while

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

🤓 Inside Scoop...

Gross Domestic Product is how we track how much stuff the economy is producing. The actual number doesn't matter as much as the direction it's going. We track the GDP growth rate to know whether the economy is expanding or contracting from the previous quarter. You'll hear it quoted as an annualized number that represents how much the GDP would increase if it hypothetically grew at that rate for a full year.