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- Daily Scoop 22-10-31
Daily Scoop 22-10-31
👋 Your Monday Scoops - GM's renewable energy & Exxon's record profits
Today's Scoop:Nerves
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Big Picture
Russia dropped out of a major trade deal, which could worsen inflation.
China is struggling to get past covid.
Corporations have been reporting decent financial health.
The Market:
⬇️
-0.8%
S&P 500: 3,871.98
1Mo:
+5%
| 1Yr:
-16%
| 5Yr:
+50%
The market drifted lower to close out a pretty positive month. The S&P 500 gained roughly 8% since September.
Corporate financial reports have been mixed but solid overall.
We're about halfway through most third-quarter updates, and 71% of companies in the S&P 500 have reported better profits than investors expected.
China is struggling to get past covid.
The country's economic production data has been underwhelming as the government continues enforcing strict lockdown measures to control the virus.
Russia pulled out of the major grain export deal with Ukraine
and launched further missile assaults. The region accounts for a substantial amount of the world's wheat exports, and the news sent wheat prices higher. If it persists, it will likely flow through into higher food prices.
Company Scoops ❤🌎💰
(Click to dig in & vote your reaction, see how others feel)
Apple's
-
Exxon
-
General Motors
-
Caterpillar
-
Amazon
(These links only work for 24 hours while the story is live)
🤓 Inside Scoop...
Companies with extra cash can
reward shareholders
for their support in two ways. First, they can distribute money directly out to investors, literally giving them a share of the profits by paying them a
dividend
. Companies will declare that every investor gets $X for each share they own. Second, companies can buy back their own shares from public investors.
Buybacks
allow companies to reduce the number of outstanding shares in the market, making each remaining share more valuable. They're slicing their company ownership into fewer pieces, allowing each shareholder to own a greater percentage of the company. If companies pause or slow either of these activities, it can mean they're preparing for trouble.
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