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- Daily Scoop 22-10-18
Daily Scoop 22-10-18
👋 Your Tuesday Scoops - Abbott baby food recall again & Hasbro has less fun
Today's Scoop:Cruising
Have questions?
Big Picture
Corporate financial updates have been solid so far.
Production at US factories has stayed strong.
Homebuilders are worried about high mortgage rates deterring buyers.
The Market:
⬆️
+1.1%
S&P 500: 3,719.98
1Mo:
-5%
| 1Yr:
-18%
| 5Yr:
+44%
Markets continued the positivity today on the back of pretty solid earnings reports.
Corporate execs are relatively sanguine about the economy
and reporting better numbers than expected.
US factory production hasn't slowed down yet
. The Federal Reserve reported US manufacturing rose 0.4% in September, nearly twice as fast as economists expected.
Homebuilders are losing confidence in the housing market,
as high mortgage rates and high home prices deter buyers. The National Association of Home Builders reported homebuilder sentiment in the single-family home market fell to the lowest level since 2012. The average 30-year fixed-rate mortgage has risen to over 7%.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Abbott
-
Moderna
-
Eyenovia
-
Goldman Sachs
-
Hasbro's
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Wall Street bank business models
can be opaque and confusing. They mainly earn revenue from lending, managing investments, executing trades, and brokering corporate deals. The traditional banking business model entails taking deposits, paying some interest to the depositor, then lending that money to someone else at some higher interest rate, profiting from the spread between.
Investment banking
isn't actually the investing arm of the bank. Investment banks assist companies with large transactions, making fees for their advice. In the same way that a real estate broker earns a commission for helping sell your house. Investment banks earn a hefty commission for helping you value and sell your company to other companies or the public (IPO).
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