Daily Scoop 22-10-4

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Today's Scoop:Cruising

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Big Picture

1. The number of available jobs is shrinking.

2. Employers may be withdrawing job postings they can't fill.

3. Manhattan's housing market is stalling.

The Market: 

⬆️

+3.1%

S&P 500: 3,790.93

1Mo:

-3%

| 1Yr:

-13%

| 5Yr:

+49%

Markets continued the recovery surge today, notching the biggest 2-day rally since March 2020. After weeks of negativity, the gains are like a ball pushed underwater.

The jobs market looks to be cooling off a bit.

The Labor Department's Job Openings and Labor Turnover Survey showed job openings declined by 1.1 million in August, much more than economists expected. There were 2 available jobs for every unemployed worker in July, but that's now down to 1.7. The amount of hiring didn't change much, which could mean

that employers may be withdrawing job postings they can't fill

. The Central Bank wants the supply and demand of labor to be more balanced, which is a good thing for the economy.

The Manhattan housing market is cooling significantly from record prices with mortgage costs so high.

Sales of co-ops and condos are down 18% from a year ago, according to a report from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.

Company Scoops ❤🌎💰

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

Amazon

workers protest smoky warehouse conditions

-

Poshmark

acquired at half off

-

Disney

strong arms Dish Network

-

Meta

cuts headcount for the first time ever

-

Rivian

ramps up production

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

🤓 Inside Scoop...

Mergers

and

acquisitions

are a core component of corporate expansion and development. When a company wants to expand into a new market or absorb new resources that another company has, it'll typically hire an

investment bank

(like a real estate broker, but for companies) to help identify, value, and negotiate a deal with the target company. The acquiring company may take on debt to fund the deal, trade its stock, or use its cash reserves. The acquisition can be an

all-cash deal,

where shareholders receive cash in their brokerage accounts, or an

all-stock deal

, where your shares of Company X turn into some amount of shares of Company Y, or some mixed combination of the two.

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