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  • Daily Scoop 22-11-1

Daily Scoop 22-11-1

👋 Your Tuesday Scoops - Moderna menstrual side effects & Big BP oil profits

Today's Scoop:Sinking

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Big Picture

  1. Energy companies are raking in record profits right now.

  2. Job openings unexpectedly increased in September.

  3. US manufacturing continues to slow.

The Market: 

⬇️

-0.4%

S&P 500: 3,856.10

1Mo:

 

+5%

 

| 1Yr:

-17%

 

| 5Yr:

+49%

The market slumped today as investors worried that a positive update on the jobs market could mean more economic restrictions.

Job openings unexpectedly increased in September.

The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) found job openings increased to 10.7M after a decline in August. Hiring still slowed from the month earlier.

Policymakers want to see job openings decline because

there aren't enough workers to fill the roles.

Over-demand is causing inflation.

The US manufacturing sector is still strong but growing more slowly than it has in over two years,

the Institute for Supply Management said today.

Energy companies are earning more profits than ever.

The energy sector has increased its earnings by more than 3x the rest of the market combined ($33B vs. $10B). Factset said that the market would be reporting declining profits if it weren't for the oil and gas boom.

Company Scoops ❤🌎💰

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

Moderna's

-

BP

-

GB Sciences

-

Uber

-

Pfizer

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

🤓 Inside Scoop...

Public companies are required to report on their financial health every quarter. We get a look at their sales, expenses, and profits (aka earnings). The few weeks after the end of the quarter, when most companies give their reports, is called

earnings season

. It's an absolute rush.

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